The gross domestic product is not a good measure of the standard of living in a nation because it:

For which of the following projects would it likely be most difficult to acquire 1,000 acres of land?

A) growing wheat B) building an amusement park C) building storage sheds D) digging wells

One cost of a perfectly anticipated inflation is that it

A) transfers wealth from lenders to borrowers. B) transfers wealth from borrowers to lenders. C) increases menu costs. D) damages the role of prices as signals in the economy.