A Drawback of Using Market Values to Aggregate the Quantities

question 82

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.
• E) lower-priced items count morE.

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Definitions:

Conscientiousness

A personality trait marked by diligence, care, and discipline in pursuing goals.

Big Five

The five basic clusters of personality traits that remain quite stable throughout adulthood: openness, conscientiousness, extroversion, agreeableness, and neuroticism.

Trait Theory

A psychological model which suggests that human personality is composed of a number of broad traits or dispositional attributes.

Generativity

The psychological and social concept that involves contributing to society and the next generation's well-being, often associated with middle adulthood.