Gross domestic product (GDP) understates total economic activity because it ignores household production of goods and services

Refer to Figure 10-6. Which diagram demonstrates an increase in total utility following a decrease in the price of popcorn?

A) the movement from d to e in Panel A B) the movement from f to g in Panel B C) the movement from h to k in Panel C D) none of the above

Dodd-Frank addressed many of the issues that led to the financial crisis. Which of the following was NOT addressed by Dodd-Frank regulations?

A) stricter consumer protection laws B) privately owned, government-sponsored enterprises (GSEs) such as Fannie mae and Freddie Mac C) resolution authority over the large financial institutions D) higher requirements on firms dealing in derivatives