In calculating GDP, economists
A) measure total expenditure as the only true measure.
B) can measure either total expenditure or total income.
C) measure total income as the only true measure.
D) measure total income minus total expenditure.
E) measure total income plus total expenditure.
B
Economics
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The table above gives the utility from pens and pencils. If the consumer has an income of $4, pens cost $1, and pencils cost $.20, what is the consumer's total utility when he or she maximizes utility?
A) 374 B) 225 C) 405 D) 365
Economics
One of the drawbacks of cost-benefit analysis is that it _____
a. attempts to add up both the costs and the benefits b. is not compatible with utilitarianism c. cannot adjust for spending at different points in time d. focuses on total costs and benefits
Economics