If GDP calculations included measurements of pollution and environmental damage, GDP values would most likely be
A) unchanged from their values without these measurements.
B) meaningless, since GDP values without these measurements would no longer be of value.
C) greater than their values without these measurements.
D) less than their values without these measurements.
D
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The authors feel subsidies destroy wealth because
a. subsidies move assets from lower- to higher- valued uses b. subsidies move assets from higher- to lower- valued uses c. subsidies help producers only d. subsidies help consumers only
If a point lies on the monetary policy reaction curve, and at this point the inflation rate equals the target rate of inflation, we know that:
A. the real interest rate corresponding to this point is below the long-run real interest rate. B. current output is above potential output. C. the real interest rate corresponding to this point is equal to the long-run real interest rate. D. the real interest rate corresponding to this point is above the long-run real interest rate.