Instead of Taking the Dirty Laundry with You When You

question 101

Multiple Choice

Instead of taking the dirty laundry with you when you go back to visit your parents,you use a Laundromat.Your use of the Laundromat means that

• A)GDP will decrease and the country's standard of living will fall.
• B)your parents' contribution to GDP will increase.
• C)GDP will remain the same.
• D)what you paid for use of the Laundromat will be included in GDP.
• E)real GDP does not change because the clothes are still being laundered but nominal GDP rises since you are now paying for the service.

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Definitions:

Corporate Social Responsibility

A business model that helps a company to be socially accountable—to itself, its stakeholders, and the public—by practicing ethical and sustainable business practices.

Sustainable Development

Development that meets the needs of the present without compromising the ability of future generations to meet their own needs, typically focusing on balancing environmental, economic, and social welfare considerations.

Stakeholders

Individuals or groups that have an interest or stake in the outcomes of a project, decision, or organization.

Corporate Social Responsibility

A business model that helps a company be socially accountable—to itself, its stakeholders, and the public. By practicing CSR, companies can be conscious of the kind of impact they are having on all aspects of society, including economic, social, and environmental.