GDP ignores all of the following EXCEPT
A) household production.
B) changes in the environment that occur in the production of output.
C) the value of leisure time.
D) products produced in other countries that are sold in the United States.
D
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According to the simple quantity theory of money in the AD-AS framework, when the money supply decreases, the result is __________ in Real GDP and __________ in the price level
A) no change; no change B) a rise; no change C) no change; a rise D) a rise; a fall E) no change; a fall
International trade shocks
A. are of greater concern to large industrialized countries than to developing countries that rely on exporting a few primary commodities. B. can be avoided by moderate use of tariffs and non-tariff barriers. C. include changes in a country's total exports that result from changes in foreign consumer tastes. D. have no impact on the countries under fixed exchange-rate regimes.