Growth in GDP systematically understates the growth in national well being because
a. ecological costs are netted out of GDP.
b. "bads" as well as "goods" get included in GDP.
c. investment is not included in GDP.
d. as a country gets richer, leisure time increases.
d
Economics
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In the above table, the average fixed cost at 4 units of output is
A) $1.00. B) $4.50. C) $4.70. D) $4.80.
Economics
In the above figure, if the market price is $8, the firm
A) continues to produce but at an economic loss. B) continues to produce but at an economic profit. C) shuts down operations. D) produces 10 units.
Economics