Mistakenly adding the value of a good or service twice by counting the intermediate goods and services in GDP is known as:
a. value added

Marginal cost is the ________ one more unit of a good and ________ of the good increases

A) opportunity cost of producing; increases as production B) opportunity cost of producing; decreases as production C) price that must be paid to consume; increases as consumption D) price that must be paid to consume; decreases as consumption

An increase in income will tend to cause which of the following?

A) an increase in the monetary base (H) B) a reduction in H C) an increase in the interest rate D) a reduction in the money multiplier E) none of the above