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Question: 12 gdp would national well being if ecological costs are...

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12. GDP would national well being if ecological costs are not netted out of. a. exactly reflect b. understate c. overstate d. All these are possible 13. Which of the following would be directly counted in U.S. GDP? Illegal drugs produced and sold in the United States An automobile manufactured in Mexico that is produced by an American-owned company An automobile produced by Toyota in Japan and sold in the United States. An automobile manufactured in the United States that is produced by a German-owned company a. b. c. d. 14. If an economy produces at potential GDP, the unemployment rate of the economy equals a. b. c. d. e. the rate of cyclical unemployment the rate of cyclical and frictional unemployment zero the rate of cyclical and structural unemployment the rate of structural and frictional unemployment 15. An economy could produce above its potential GDP for a short period of time by a. b. c. d. adding extra shifts of work, such as overtime or night shifts. increasing the rate of unemployment decreasing the price of final goods and services reducing the size of the labor force

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