Changes in the quality of a good
A) are not reflected in GDP unless the price of the good reflects the improvement.
B) increase the national income and lower GDP.
C) are reflected in GDP when GDP is deflated.
D) are one reason the dollar value of output exceeds the dollar value of income.
E) explain why we must avoid double counting.
Correct Answer:
Verified
Q29: Which of the following is a limitation
Q30: One important element of our well-being that
Q31: If the estimated current dollar output is
Q32: GDP is improved as a measure of
Q33: The following question is based on the
Q35: To deflate,one must
A) multiply the price ratio
Q36: GDP overestimates our true economic welfare because
A)
Q37: The concept of value added
A) is not
Q38: If the estimated current dollar GDP is
Q39: If the ratio of the value of
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