Which of the following is most closely associated with positive economics?
a. determining the impact of government spending on the actual level of total employment
b. determining the best level of immigration into the country
c. determining whether too many luxury goods are being produced
d. determining whether the government should reduce poverty
e. determining whether the government should alter income taxes in order to increase total employment
A
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One problem with the absolute approach to poverty is that there is no agreement as to which goods and services to include in the definition
Indicate whether the statement is true or false
How does the calculation of GDP include the costs of natural resource depletion that occurs when output is produced?
a. The value of resource depletion is added to GDP. b. The cost of resource depletion is not measured in GDP. c. The cost of resource depletion is added to real but not nominal GDP. d. Resource depletion causes GDP to overstate well being.