Suppose Bob Works for Mary as a Proofreader

question 57

Multiple Choice

Suppose Bob works for Mary as a proofreader.Mary and Bob fall deeply in love,marry,and have eight children.Bob stops working for Mary in order to care for the children.What will be the effect on GDP?

• A)GDP will decrease.
• B)GDP will increase.
• C)GDP will not change.
• D)GDP may increase or may decrease depending on inflation.

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Definitions:

Responsiveness

The quality of reacting quickly and positively, often used in contexts ranging from customer service to mobile or web design, indicating agility and attentiveness to needs or changes.

Midpoint Formula

A method used in economics to calculate the percentage change in a variable by dividing the change by the average of the initial and final values.

Price Elasticity

A measure of the sensitivity of quantity demanded or supplied to a change in price, indicating how a price change can affect market dynamics.

Absolute Value

The non-negative value of a number without regard to its sign.