Question 23 Which of the statements below is true? OLAfim eaming zero economic profits is not eaming ts opportunity cost O& The value of service provided by the miltary is included in GDP at market value Oc hcome resulting from unemployment benefts is included in GDP O& Other thngs equal in a market in equilbrum, any change in a delteminant of demand will change the equilibrium quantity supplied

Question 23 Which of the statements below is true? OLAfim eaming zero economic profits is not eaming ts opportunity cost O& The value of service provided by the miltary is included in GDP at market value Oc hcome resulting from unemployment benefts is included in GDP O& Other thngs equal in a market in equilbrum, any change in a delteminant of demand will change the equilibrium quantity supplied

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter19: The Macroeconomic Perspective

Section: Chapter Questions

Problem 10SCQ: Explain briefly whether each of the following would cause GDP to overstate or understate the degree...

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