Changes in the GDP deflator reflect
a. only changes in prices.
b. only changes in the amounts being produced.
c. both changes in prices and changes in the amounts being produced.
d. neither changes in prices nor changes in the amounts being produced.
a
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In market capitalism:
A) factors of production are privately owned and decisions are made privately. B) factors of production are owned by the government but decisions are made privately. C) there is no role for government. D) the consumer has few choices to make.
Monitoring of employees
A) is only effective while the employees are working, so that payment may be withheld for shirking. B) can be effective after-the-fact if the shirking behavior can be detected later and the employee punished. C) is only effective after-the-fact when it is possible to fire them for shirking. D) None of the above.