An increase in the price level is defined as A) a recession. ...

[JGIBBSON]

An increase in the price level is defined as
 
  A) a recession.
  B) a growth boom.
  C) inflation.
  D) an expansion.

Question 2

Real GDP does not show the state of economic welfare in a country in part because GDP omits
 
  I. household production.
  II. leisure time available.
  III. the quality of the environment.
  A) I only
  B) I and III
  C) II and III
  D) I, II and III

[aburgess]

Answer to Question 1

C

Answer to Question 2

D

[JGIBBSON]

YES! Correct, THANKS for helping me on my review

[chjcharjto14]

Thanks for the timely response, appreciate it