EBK ECONOMICS TODAY
18th Edition
ISBN: 9780133920116
Author: Miller
Publisher: YUZU
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Question
Chapter 8, Problem 2FCT
To determine
The reason because of which some economists have expressed worries about the possibility that GDP may become a more subjective measure of economic activity is to be determined.
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Chapter 8 Solutions
EBK ECONOMICS TODAY
Ch. 8 - Prob. 8.1LOCh. 8 - Prob. 8.2LOCh. 8 - Prob. 8.3LOCh. 8 - Prob. 8.4LOCh. 8 - Prob. 8.5LOCh. 8 - Prob. aFCTCh. 8 - Prob. bFCTCh. 8 - Prob. cFCTCh. 8 - Prob. dFCTCh. 8 - Prob. eFCT
Ch. 8 - Prob. fFCTCh. 8 - Prob. 1CTQCh. 8 - Prob. 2CTQCh. 8 - Prob. 1FCTCh. 8 - Prob. 2FCTCh. 8 - Prob. 1PCh. 8 - Prob. 2PCh. 8 - Prob. 3PCh. 8 - Prob. 4PCh. 8 - Prob. 5PCh. 8 - Prob. 6PCh. 8 - Prob. 7PCh. 8 - Prob. 8PCh. 8 - Prob. 9PCh. 8 - Prob. 10PCh. 8 - Prob. 11PCh. 8 - Prob. 12PCh. 8 - Prob. 13PCh. 8 - Prob. 14PCh. 8 - Prob. 15PCh. 8 - Prob. 16PCh. 8 - Prob. 17PCh. 8 - Prob. 18P
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- which of the below statements about the U.S. GDP do you think is INCORRECT? Group of answer choices India has a GDP that is many times the size of the GDP of Israel. Yet, of the two, Israel is considered to be the richer economy because it has a higher per capita income. GDP may give us a measure of economic prosperity, but it is at best an imperfect measure, since it does not indicate the level of happiness, leisure, literacy, life expentancy, environmental preservation, or other such factors that may improve the quality of human life. China achieved its rapid rate of GDP growth in the 21st century with little, if any, environmental depletion or pollution.arrow_forwardFor the following question , please indicate whether current GDP of the United States will be affected and, if so, by how much .In each case, indicate also which component(s) of GDP will be affected and by how much This month, a manufacturer in colorado sells $60,000 worth of t-shirts to a distributor in New York City, who sells them to the public. Then the New York distributor buys corporate bonds for a value of $10,,000, which promise to return $9400 one year from now.arrow_forwardwhat have we learned from the recent changes in GDP so far this year in 2022?arrow_forward
- Classify each of the following as IN AFRICA's 2020 GDP or NOT IN AFRICA's 2020 GDP. Crude oil (used in the production of gasoline) produced in 2020: IN AFRICA 2020 GDP NOT IN AFRICA 2020 GDP Oil produced by an AFRICA company in AFRICA in 2020 (and sold to consumers): IN AFRICAs 2020 GDP NOT IN AFRICA 2020 GDP Oil produced by AFRICA-owned companies outside of AFRICA (and sold to consumers) in 2020: IN AFRICA 2020 GDP NOT IN AFRICA 2020 GDParrow_forwardBy How Much Will U.S. GDP Grow Next Year?arrow_forwardWhy is investment an important component in a country's output? what theory supports investment in GDParrow_forward
- Refer to Table 4.3 “The Model’s Prediction for Per Capital GDP” on page 83. Why is the “observed per capita GDP” in the last column 1.000 for the U.S.? A. The U.S. per capita GDP was $1,000 in real terms for the year given in the table B. It means the U.S. economy produces 100% of what it’s supposed to produce C. It means the U.S. economy uses 100% of all available capital in the country D. U.S. values are set, or normalized, to 1 while the other countries’ values are all relative to the U.S. valuesarrow_forwardWhich of the following will likely lead to an increase in real GDP in the U.S. Group of answer choices The U.S. begins a new war in the middle east A massive hurricane destroys homes and infrastructure in the Eastern US The growing student debt burden forces American households to begin working twice as many hours each week all of the above Many people believe that GDP is not a good indicator of economics success or standard of living because Group of answer choices GDP doesn't tell us anything about the distribution of income GDP doesn't include leisure time as a good GDP does not account for "bads" like pollution all of the abovearrow_forwardWhy is better to use HDI rather than GDP to look at the development of a country?arrow_forward
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