Which of the following is NOT a reason that real GDP is a poor measure of a nation's economic welfare?
A) Real GDP omits measures of political freedom.
B) Real GDP does not take into account the value of people's leisure time.
C) Real GDP does not include the underground economy.
D) Real GDP overvalues household production.
D
Economics
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The difference between moral hazard and adverse selection is
a. moral hazard has to do with unobservable characteristics of individuals b. moral hazard has to do with unobservable actions of individuals c. adverse selection is when individuals change their behaviors because of a contract d. adverse selection is when you choose the wrong answer on a test
Economics
Private goods are not excludable.
Answer the following statement true (T) or false (F)
Economics