Author Question: The U.S. Department of Commerce has been developing so-called green accounting to: a. include the ... (Read 51 times)

ghost! · **on:** Jun 30, 2018

The U.S. Department of Commerce has been developing so-called green accounting to:
a. include the value of leisure in the gross domestic product (GDP) of the country.
b. register the impact of pollution and natural resource depletion.
c. value the output of new firms.
d. illustrate the difference between nominal GDP and real GDP.
e. measure the value of the output produced by inexperienced workers.

Question 2

Economists and policy makers questioned the effectiveness of discretionary fiscal policy during the 1970s for all the following reasons except:
a. the difficulty of estimating the natural rate of unemployment.
b. the time lags involved in implementing fiscal policy.
c. the existence of possible feedback effects of fiscal policy on aggregate supply.
d. the distinction between current and permanent income.
e. the possible feedback effects of fiscal policy on aggregate demand.