The dollar price of a good relative to the average dollar price of all other goods and services is the good's:

What is a network externality?

A) It refers to a product that requires connection to a network for it to be useful. B) It refers to a situation in which a product's usefulness increases with the number of people using it. C) It refers to having a network of suppliers and buyers for a good or service. D) It refers to lobbying to form a public enterprise.

Which of the following is not a reason to be cautious about using GDP as an indicator of development?

a. Developing countries may not have many statisticians. b. GDP includes the value of harmful products. c. Many goods and services are exchanged for others and are not recorded as having a specific value. d. Traditional methods of comparing countries' GDP data have numerous statistical weaknesses. e. All of the above are reasons for caution.