Which of the following is false?
a. We do not have information on nonmarket transactions output that is reliable enough to include it in the GDP.
b. The most important nonmarket transaction omitted from GDP are services provided directly in the home.
c. The value that individuals place on leisure is omitted in calculating GDP

d. All goods and services exchanged in the current period are included in this year's GDP.

Economics

Long-run aggregate supply corresponds to the level of potential output.

a. true b. false

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Economics

If your bank pays you 6% interest on a savings account and inflation is 2%, your approximate real rate of interest is

A) 2%. B) 4%. C) 8%. D) 12%.

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Economics