A. Is gross domestic product an accurate measure of the standard of living? Why or why not?

B. Describe the effect on GDP, unemployment, and inflation of each of the following: (a) war, (b) elimination of environmental regulations, and (c) cuts in welfare benefits.

C. Do you believe in the trickle-down philosophy?

D. Do you believe that the Federal Reserve should be controlled by Congress?

E. How do you think state and local governments will deal with the underfunded pensions problem? What problems do you foresee if your answer is implemented?