A Drawback of Using Market Values to Aggregate the Quantities

question 209

Multiple Choice

A drawback of using market values to aggregate the quantities of goods and services produced in an economy is that:

• A)higher-priced items count more.
• B)GDP increases when not all goods are produced in greater quantities.
• C)market prices generally reflect the economic benefit consumers expect to receive from an item.
• D)not all economically valuable goods and services are bought and sold in markets.

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Definitions:

Mobile Banking

A banking method that allows the bank customer to perform banking actions on his or her cell phone or other mobile device.

Banking Transactions

Financial activities conducted through a bank, such as deposits, withdrawals, transfers, and payments.

Smartphone

A smartphone is a mobile device that combines cellular connectivity, computing capabilities, and internet access, along with other functionalities.

MICR Numbers

A line of numbers printed at the bottom of checks using a special magnetic ink; includes bank routing number, account number, and check number, used for electronic processing.