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Author Question: The equilibrium price under an import quota is below the price that occurs with free trade. ... (Read 70 times)

abern

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  • Posts: 533
on: Jun 29, 2018
The equilibrium price under an import quota is below the price that occurs with free trade.
 
  Indicate whether the statement is true or false

Question 2

U.S. real GDP
 
  A) measures the change in the price level over time.
  B) precisely measures the improving standard of living in the United States.
  C) excludes the value of underground production and leisure time.
  D) includes the value of underground production but excludes the value of leisure time.
  E) is not as accurate as nominal GDP when measuring standard of living changes over time.


tanna.moeller

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Reply #1 on: Jun 29, 2018
Answer to Question 1

FALSE

Answer to Question 2

C


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