QN=72 (17786) If you buy a burger and fries at your favorite fast food restaurant,
a. then neither GDP nor consumption will be affected because you would have eaten at home had you not bought the meal at the restaurant.
b. then GDP will be higher, but consumption spending will be unchanged.
c. then GDP will be unchanged, but consumption spending will be higher.
d. then both GDP and consumption spending will be higher.
d. then both GDP and consumption spending will be higher.
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The main cause for the vast differences in per capita GDP levels seen across the globe today is the:
A. Huge differences in the natural-resource endowments of different countries B. Major differences in the population sizes of various societies C. Different starting dates of modern economic growth in different parts of the world D. Differences in religions that different societies around the world believe in
Which of the following would be considered a "leisure" activity by economists?
A. Driving an on-duty taxi. B. Driving to the movies. C. Driving a forklift for work. D. Driving a bus for a city.