GDP is geographically focused, including all output produced within a nation's borders.
Answer the following statement true (T) or false (F)
True
GDP measures how well the economy is doing and so looks only at production within the nation's borders.
Economics
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Under a gold standard, a discovery of gold will
a. decrease the general price level. b. increase the general price level. c. cause increased unemployment. d. cause decreased rates of economic growth.
Economics
Explain the difference between cardinal and ordinal utility. Which is better to use when modeling consumer behavior and why?
Please provide the best answer for the statement.
Economics