Which of the following is a problem with using real GDP as a measure of economic well-being?
a. It does not account for inflation
b. It does not account for production within the household.
c. It does not account for production by foreign firms producing inside the U.S.
d. all of the above
b
Economics
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Arguments against the balanced budget amendment include which of the following?
A) A balanced budget amendment would increase capital formation. B) A balanced budget amendment would exert fiscal discipline on the federal government. C) A balanced budget amendment would limit Congress' ability to use fiscal policy during a recession. D) A balanced budget amendment would reduce the taxation burden on future generations.
Economics
How do we calculate average fixed cost and why does average fixed cost fall as output increases?
What will be an ideal response?
Economics