The expenditures or output approach to GDP measures it by summing:
a. Compensation of employees, rents, interest, dividends, corporate profits, proprietors' income, and indirect business taxes, and subtracting the consumption of fixed capital
b. Compensation of employees, rents, interest, dividends, undistributed corporate profits, proprietors' income, indirect business taxes paid, consumption of fixed capital, and net foreign factor income earned in the United States
c. The total spending for consumption, investment, net exports, and government purchases
d. The total spending for consumption and government purchases, but subtracting public and private transfer payments
c. The total spending for consumption, investment, net exports, and government purchases
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A patent creates a monopoly by restricting ________
A) demand for the product B) the number of complements for the product C) the amount of advertising that can be undertaken D) entry into the market
According to the law of supply, when the price of computer microprocessors rises Question 13 options:
A. the quantity of microprocessors produced increases. B. the number of sellers of microprocessors increases. C. the supply of microprocessors increases. D. the quantity of microprocessors produced decreases. E. computers become cheaper to purchase.
If demand is elastic, then when price rises, total revenue will decrease.
Answer the following statement true (T) or false (F)
Firms believe that the current economic downturn will be long-lasting and have decided to hold very little excess labor. The government reports that the unemployment rate is 12.5%. The government has decided to stimulate the economy by increasing government spending. In this situation the multiplier is likely to be
A. zero. B. small. C. negative. D. large.