If on-the-job working conditions have improved over time,
a. real GDP will understate the growth rate of real income.
b. real GDP will overstate the growth rate of real income.
c. the GDP deflator will overestimate inflation.
d. real GDP will overstate the growth rate of real income, and the GDP deflator will understate inflation.
A
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A decrease in disposable income shifts the ________
A) demand for loanable funds curve rightward B) demand for loanable funds curve leftward C) supply of loanable funds curve leftward D) supply of loanable funds curve rightward
If either the production or consumption of a good generates an external cost, then the market equilibrium quantity will be:
A. greater than the socially optimal quantity. B. socially optimal. C. equal to zero. D. less than the socially optimal quantity.