Instead of taking the dirty laundry with you when you go back to visit your parents, you use a Laundromat. Your use of the Laundromat means that
A) GDP will remain the same.
B) GDP will decrease and the country's standard of living will fall.
C) what you paid for use of the Laundromat will be included in GDP.
D) real GDP does not change because the clothes are still being laundered but nominal GDP rises since you are now paying for the service.
E) your parents' contribution to GDP will increase.
C
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The "tragedy of the commons" is most likely to occur with which one of the following goods?
a. A national forest b. A mineral ore deposit c. A public highway d. A groundwater aquifer e. A city park
What is a primary determinant of the asset demand for money?
I. the interest rate II. the opportunity cost of holding money III. the supply of money A) I only B) III only C) both I and II D) both II and III