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Author Question: Which of the following will lead to GDP underestimating our true output? a. Mary begins a catering ... (Read 94 times)

mia

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on: Jun 30, 2018
Which of the following will lead to GDP underestimating our true output?
 a. Mary begins a catering business.
 b. James begins drawing Social Security benefits upon his retirement.
 c. David accepts a position as a software specialist at Microsoft.
 d. Gretchen begins an accounting and bookkeeping service in her home, accepting cash as payment, which is not reported to tax authorities.

Question 2

Economists have proved that a substantial increase in income during a month does not affect consumption much in the short run unless it is perceived as a permanent increase.
 a. True
  b. False
  Indicate whether the statement is true or false


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sailorcrescent

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Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

True


mia

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Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

diana chang

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Reply 3 on: Yesterday
Excellent

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