The economic way of thinking claims there are substitutes for
A) any good.
B) most goods except non-renewable resources.
C) most goods except clean air and clean water.
D) most goods except wetlands and tropical rain forests.
Question 2
A ten-year-old goes to a baseball convention this week and purchases a newly-autographed Barry Bonds baseball for 100. How would this affect GDP?
A) It wouldn't.
B) GDP would increase by 10reflecting the market price of the ball itself.
C) GDP would increase by 90reflecting the market price of Bonds' autograph.
D) GDP would increase by 100reflecting the market price of the autographed ball.
E) GDP would have increased were the autographed ball purchased by somebody 16 years or older.
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economic question
economic question