GDP tends to overstate economic well-being because it takes into account:
A. Improvements in product quality over time
B. Expenditures undertaken to correct pollution
C. Illegal activities of individuals and businesses
D. Nonmarket activities, such as the productive work of homemakers
B. Expenditures undertaken to correct pollution
Economics
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If an inflation forecast is based on expected monetary growth, it is likely to be
A) historical. B) rational. C) logical. D) adaptive.
Economics
In the Keynesian DMP model, if the wage is high then
A) the vacancy rate is low. B) the unemployment rate is low. C) labor market tightness is high. D) the labor force must be low.
Economics