In an expansion, investment spending is rising, but expenditures for expensive durable consumer goods are falling.

True or False?

Free-trade policies tend to increase the value of an economy's total output.

True or False?

In the short run, a reduction in unemployment may come at the expense of a higher rate of ination.

True or False?

In less-developed countries, where a signicant amount of food and clothing output is produced in the home, the failure to include nonmarket economic activity in GDP is a serious deciency.

True or False?

Nonmarket transactions, the underground economy, and the value of leisure are all omitted from ofcial measures of GDP

True or False?