Measuring a nation's gross domestic product over long periods of time is conceptually difficult because:
A) tastes and preferences change over time.
B) government tax policies change over time.
C) the composition of goods in the GDP changes over time.
D) producers have internalized the nominal cost of external benefits over time.
Correct Answer:
Verified
Q1: The statistic most frequently used by economists
Q3: Real GDP per capita estimates are used
Q4: Between 1950 and 2004, the average annual
Q5: From the list below the best measure
Q6: Economic growth:
A) does not affect living standards.
B)
Q7: Small differences in growth rates eventually produce
Q8: Growth of per capita output occurs when:
A)
Q9: With the economy at potential output, economic
Q10: Which of the following statements is false?
A)
Q11: Growth accounting attempts to measure the factors
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