Which of the following correctly describes real GDP?
a. Real GDP is GDP after subtracting spending on frivolous items like candy, movies, and toys.
b. Real GDP is GDP after subtracting false growth induced by imported goods.
c. Real GDP is GDP after adding export sales to foreign countries.
d. Real GDP is GDP after subtracting out the effects of inflation.
d
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Explain the meaning of the word "convergence" in the context of economic growth and standards of living
What will be an ideal response?
________ saw the home as a workplace which could be made more efficient. Her husband Frank (an efficiency expert in factories) wrote a book about their marriage and twelve children, Cheaper by the Dozen, which has been made into movies
a. Eleanor Shively b. Evelyn Draper c. Ellen R. Richards d. Lillian Gilbreth