Say that after graduation you live in Manhattan and you walk to work. Then, you got a raise and you take a taxi most days. As a result, GDP would most likely ___.

A. fall
B. be unchanged
C. rise

Ans: C. rise

Economics

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The vertical distance between a firm's total cost (TC) and its total variable cost (TVC) curves

A) decreases as output decreases. B) is equal to the average variable cost, AVC. C) is equal to the total fixed cost, TFC. D) is equal to the marginal cost, MC.

Economics

Which of the following statements is most accurate?

a. Most economic historians believe that the policies of the federal government were an important cause of the Great Depression. b. Most economic historians believe rapid increase in inequality caused the Great Depression. c. The US experienced a relative absence of cyclical unemployment and was relatively free from the mass joblessness that had previously plagued the nation. d. More homogenous communities chose to have higher taxes to fund schools.

Economics