Because government services are not sold in markets,
A) they are excluded from measurements of GDP.
B) the government tries to estimate their market value and uses this to measure the government's contribution to GDP.
C) they are valued at their cost of production.
D) taxes are used to value their contribution.
C
Economics
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The analysis of consumer decision making based on utility maximization is known as
A) specialization analysis. B) consumption analysis. C) utility analysis. D) market analysis.
Economics
In a model with leisure hours and a composite consumption good, you cannot tell whether workers will work more or less if tastes are quasilinear in the consumption good.
Answer the following statement true (T) or false (F)
Economics