The silverware industry has been in serious decline since the 1980s. Family dining habits are less formal so people purchase less silverware. Also, in 2006-2008, the price of silver increased from $5 to $20 per ounce. Which graph in Figure 4-12 best illustrates these developments?

What does GDP measure to avoid double-counting?

a. final goods and services b. intermediate goods and services c. net exports d. all sales of goods and services

What type of questions can be answered with economic tools without interjecting any value judgment as to whether the particular outcome is desirable or harmful?

A. econometric questions B. labor questions C. normative questions D. public policy questions E. positive questions