Why is GDP an imperfect measure of economic well-being? What types of production does GDP not measure? Even if GDP includes these types of production, why would it still be an imperfect measure of economic well-being? GDP does not include household production and the underground economy. Even...
1. Goods and services purchased by residents of the US; individuals or businesses. 2. Includes durable goods, nondurable goods and services. 3. Accounts for nearly 70% of GDP; services are the largest part of personal consumption spending. ...
M2 is a broader definition of money which includes M1 plus some less liquid forms of money like time deposits. M2 is definitely bigger than M1. As of May 2020, M1 now includes savings deposits, since the Federal Reserve had changed regulations regarding savings deposi ...
In addition to the part of the earth's surface not covered by water, this term refers to any and all natural resources ("free gifts of nature") that are used to produce goods and services. Thus, it includes the oceans, sunshine, coal deposits, forests, the electromagnetic specturm, and ...
用Quizlet學習並牢記包含Technological progress has made it possible for firms such as Apple and Alivecor to develop small electronic devices, including smartwatches, smartphones, and products that can be attached to the smartwatches and smartphones, to se