GDP underestimates our economic well-being:
a. for of all the following reasons.
b. because it includes the value of work done by nannies.
c. because it ignores leisure.
d. because it includes the value of work done by householders.
e. because it includes the value of work done by illegal immigrants.
Question 2
The negative slope of the aggregate demand curve is caused by:
a. the real balances effect, the interest rate effect, and the price level effect.
b. the real balances effect, the money supply effect, and the net exports effect.
c. the interest rate effect, the net exports effect, and the real GDP effect.
d. the real balances effect, the interest rate effect, and the net exports effect.
e. the real balances effect, the interest rate effect, and the net export effect.
Economic Differentiation in China
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