One of the most common uses of GDP is to:
A. track changes in an economy over time.
B. see which country has the fairest distribution of wealth.
C. evaluate different standards of living across countries.
D. measure the amount of money has been made in the economy.
A. track changes in an economy over time.
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Diminishing marginal returns and diseconomies of scale are two different names for the same thing
Indicate whether the statement is true or false
When the Fed purchases additional securities and shifts to a more expansionary monetary policy,
a. the inflation rate will rise almost immediately. b. the growth of output and employment will increase quickly. c. several months will typically pass before the shift in policy exerts much impact on output and employment. d. this policy will eventually lead to a decline in the general level of prices if it is continued for a prolonged period of time.