The measurement of GDP includes
A) nonmarket goods such as homemaking and child-rearing.
B) the benefits of clean air and water.
C) estimated values of activity in the underground economy.
D) purchases and sales of goods produced in previous periods.
C
Economics
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A rent ceiling in a housing market
A) makes all rents lower than the ceiling illegal to charge. B) is set above the equilibrium rent in order to have an effect. C) increases the time people spend searching for housing. D) Both answers B and C are correct. E) Both answers A and C are correct.
Economics
A luxury good has
A) a negative income elasticity. B) a cross elasticity of one. C) a very high income elasticity. D) a negative price elasticity.
Economics