GDP is measured in terms of market value because:
a. Actually, GDP is not measured as a market value. GNP measures market values.
b. Otherwise, it would be impossible to combine all the heterogeneous goods and services consumed in a nation.
c. Otherwise, it would be impossible to combine all the heterogeneous goods and services produced in a nation.
d. Otherwise, it would be impossible to combine domestically produced goods and services with foreign goods and services consumed by the public.
e. Otherwise, it would be impossible to separate the domestically produced goods and services from foreign goods and services consumed by the public.
.C
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The Federal Open Market Committee consists of
A) 12 members, each of which is the president of one of the 12 regional Federal Reserve banks. B) the seven members of the Board of Governors , the Chairman of the Fed, the U.S. Treasury Secretary, and the president of the Federal Reserve Bank of New York. C) the chairman of the Fed, the chairman of the president's council of economic advisors, the U.S. Treasury Secretary, and 4 of the 12 Federal Reserve Bank presidents who serve on a rotating basis. D) the seven members of the Board of Governors , the president of the Federal Reserve Bank of New York, and 4 other Federal Reserve Bank presidents.
Price discrimination reveals
A) the inherent greed of Western culture. B) the inability for regulators to stop unethical practices. C) that individuals have different willingness to pay. D) that individuals have the same willingness to pay.