Suppose somebody made the following statement: "There will never be a substitute for Howard Stern, the radio shock-jock." According to the economic way of thinking, the above statement
A) is essentially true.
B) is misleading because cloning already exists and it is a matter of time before people will be cloned.
C) is incorrect because many people choose to listen to other programs as the perceived costs of listening to Howard Stern change.
D) is essentially false because Howard Stern provides nothing of value to society.
C
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If the statistical discrepancy is zero, in order to calculate GDP from the value of net domestic product at factor cost, we must add
A) the value of intermediate goods and subtract the value of imports. B) direct taxes, subtract corporate profit, and add investment. C) indirect taxes, subtract subsidies, and add depreciation. D) subsidies, subtract indirect taxes and depreciation. E) indirect taxes, subsidies, and depreciation.
Briefly explain why the reported official unemployment rate in Spain in 1994 may have provided an over-estimate of unemployment in Spain
What will be an ideal response?