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.
b
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Effective usury laws cause:
A. a surplus of money in money markets. B. the quantity of money demanded to be brought into balance with the quantity supplied. C. the quantity of money supplied to exceed the quantity demanded. D. a shortage of money in money markets.
Which statement best completes the following sentence; "The U.S. dollar is to the fifty states as the euro is to…"?
A. The National Central Banks B. The European System of Central Banks C. The European Central Bank D. The states of the European Monetary Union