Please make sure that the information in the practice questions is correct
Please make sure that the information in the practice questions is correct. I just tried to answer one of the practice questions on GDP and it marked my correct answer wrong. I double checked my answer in the book and I was correct and the website was wrong. This problem could cause people to learn false information. :/
Thank you for submitting your concern about the GDP practice question. We take making sure that all of our questions are correct very seriously. We have reviewed all the questions on GDP and can verify that they are all correct. If you can let me know which is the question you think is wrong, we can try address it specifically.
There is one question, the second question in the “Splitting GDP” video, that is a bit of trick question. Maybe this is the one you are referring to. It may seem that the answer should be (e), but it is actually (d). The reason is that not all of government spending is counted in GDP; only government purchases are. For example, social security payouts are government expenses but not purchases, and these are not counted toward GDP. The video explains why this is so: GDP count goods and services produced, and some government expenses are merely transfers of money and do not reflect newly created goods and services.
I hope this clarifies the issue. If this was not the question you were referring to, please do let us know. Thanks for watching MRU.
There is a question in the asymmetric information section about Marcia (with an MBA) losing out on job to person with no college degree. The "correct" answer according to website is that she lost out because of asymmetric information, but this would only be correct IF she didn't disclose the fact that she had an MBA in the application process. This "fact" is not part of the question and makes little sense in an application process. Suggest you change the example, or state that she fails to provide the fact that she has an MBA in application process.