If We Calculate GDP by Adding the Dollars of All

question 139

Multiple Choice

If we calculate GDP by adding the dollars of all goods that buyers pay, we make an error as a result of

• A)omitting opportunity costs.
• B)double counting some goods.
• C)missing the negative values that some buyers perceive for some goods.
• D)omitting some measures of well-being.
• E)ignoring inflation.

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Definitions:

Net Neutrality

The principle that internet service providers should enable access to all content and applications regardless of the source, without favoring or blocking particular products or websites.

Broadband Service Providers

Companies that offer high-speed internet access to consumers and businesses through various technologies.

Dodd-Frank Act

A comprehensive financial reform law passed in 2010 in response to the financial crisis, aimed at reducing risks in the financial system.

TARP

Troubled Asset Relief Program, a government initiative to purchase toxic assets and equity from financial institutions to strengthen the financial sector during the 2008 financial crisis.