George S. reads in today’s paper that the Consumer Price Index (CPI) for October of 1988 was 120, and that for October of 1989 it is 140. Based on this information, George can conclude that the current rate of inflation is:

One of the real limitations of GNP or NNP, from the perspective of most economists, is that these measures:

When Simon Kuznets devised the GNP scale, he made the decision to exclude illegal activities like drug smuggling and gambling from his calculations. Kuznets based this decision MAINLY on the fact that: