Author Question: Which of the following is NOT a reason that real GDP is a poor measure of a nation's economic ... (Read 64 times)

burchfield96 · **on:** Jun 29, 2018

Which of the following is NOT a reason that real GDP is a poor measure of a nation's economic welfare?

A) Real GDP omits measures of political freedom.
B) Real GDP does not take into account the value of people's leisure time.
C) Real GDP does not include the underground economy.
D) Real GDP overvalues household production.

Question 2

Considering a PPF with health care services on the vertical axis and other goods and services on the horizontal axis, the increasing production of health care services in the United States as a result of the aging population represents

A) a movement upward along the PPF.
B) an outward shift of the PPF from the vertical axis.
C) an outward shift of the PPF from the horizontal axis.
D) a movement downward along the PPF.