Refer to the Article Summary. If Netflix chose to use Shiller's pricing method
A) consumer surplus, producer surplus, and deadweight loss would all be equal.
B) producer surplus would be zero.
C) deadweight loss would be maximized.
D) consumer surplus would be zero.
D
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Instead of taking the dirty laundry with you when you go back to visit your parents, you use a Laundromat. Your use of the Laundromat means that
A) GDP will remain the same. B) GDP will decrease and the country's standard of living will fall. C) what you paid for use of the Laundromat will be included in GDP. D) real GDP does not change because the clothes are still being laundered but nominal GDP rises since you are now paying for the service. E) your parents' contribution to GDP will increase.
The equation of exchange is a(n)
a. identity relating the volume of transactions at current prices to the stock of money times the turnover rate of each dollar. b. "truism" and by itself does not explain the variables it contains. c. identity relating the volume of transactions at base year prices to the stock of money times the turnover rate of each dollar. d. Both a and b e. Both b and c