Multiple Choice
When Simon Kuznets devised gross national product (GNP) ,he made the decision to exclude illegal activities like drug smuggling and gambling from his calculations.He based this decision mainly on the fact that
A) such activities, at that time, netted little national income.
B) he wanted to focus on activities that were "goods" and not "bads."
C) he could not obtain accurate information on income generated through such activities.
D) such activities generated income but few tangible products.
E) such activities were not bought and sold in markets.
Correct Answer:
Verified
Correct Answer:
Verified
Q15: Kuznets was honored for his contribution to
Q16: U.S.gross domestic product measured in current dollars
Q17: The following question is based on the
Q18: Printed circuits used in the production of
Q19: GDP is improved as a measure of
Q21: The largest income component of U.S.GDP is<br>A)
Q22: Government transfer payments are NOT included when
Q23: The greatest amount of consumer spending in
Q24: The value added by an industry is
Q25: Productive activities typically excluded from GDP include<br>A)