Author Question: Real GDP is not a perfect indicator of economic welfare because ________. A) it includes the ... (Read 83 times)

tiara099 · **on:** Jun 29, 2018

Real GDP is not a perfect indicator of economic welfare because ________.

A) it includes the underground economy
B) it includes a direct measure of health and life expectancy
C) it underestimates inflation
D) economic welfare depends on many factors not measured or not measured accurately by real GDP

Question 2

The United States has a comparative advantage in producing airplanes if

A) it can produce them at a lower opportunity cost than can other nations.
B) it can produce them at a lower dollar cost than can other nations.
C) it can produce a larger quantity than can other nations.
D) it has a larger quantity of skilled workers than do other nations.