GDP does not reflect
a. the value of leisure.
b. the value of goods and services produced at home.
c. the quality of the environment.
d. All of the above are correct.
d
Economics
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What is the shape of the total variable cost curve? Explain
What will be an ideal response?
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In year one, the GDP deflator is 100 and in year two 110. If nominal GDP in year two is $300 billion, what is real GDP for year two?
A) $200 billion. B) $100 billion. C) $272.73 billion. D) $220 billion.
Economics