Economists often examine GNP to estimate changes in the well being of people. If one only studied GNP, which of the following would lead one to overestimate the true increases in peoples' well being?
a. Decreasing average hours of work
b. Increasing life expectancy
c. Decreasing levels of pollution
d. Decreasing amounts of production in the home
e. Increases in product quality
d. Decreasing amounts of production in the home
Economics
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If we compare the four sources of spending in the economy we see that
A) household consumption is the smallest. B) government expenditure is the largest. C) business investment is the largest. D) household consumption is the largest.
Economics
Given the data in Scenario 14.3, how much labor should the firm employ if labor costs $30 a unit?
A) 3 units of labor B) 4 units of labor C) 5 units of labor D) 6 units of labor E) 7 units of labor
Economics