GDP accounts systematically ignore
A) non-market production.
B) illegal and underground production.
C) barter trades.
D) the market value of services provided by illegal aliens.
E) all of the above.
Question 2
Unemployment rates were much higher in the 1980s than they were in the 1950s basically because
A) a higher percentage of the population was in the labor force in the 1980s, but the cost to many of them of being unemployed was much lower than it was in the 1950s.
B) automation has eliminated many unskilled jobs.
C) fewer jobs are available in the 1980s relative to the population.
D) inflation raises unemployment rates.
E) recessions have become much more severe since the 1950s.
In nest, under production
Global Coffee Production
Main Hall, Trajan's Market
Complete the following production chart and plot the points.
Markets and Institutions Market Story Problem
Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ...