Question 1
GDP understates the value of output produced by an economy because it
◦ includes environmental degradation caused by increased output production.
◦ excludes value added from the underground economy, such as tips taken "under the table."
◦ includes transactions that do not take place in organized markets, such as home-cooked meals.
◦ excludes the value of the wages and fringe benefits of government employees.
Question 2
Per capita gross national income (GNI) increases when
◦ GNI and the population increase at the same rate.
◦ GNI does not change and the population increases.
◦ GNI and the population decrease at the same rate.
◦ GNI increases and the population does not change.
Tropical deciduous forest in Bandhavgarh National Park, India
On average, students in Roman Catholic schools score higher on national tests than students in ...