Compensation of employees is the largest component of GDP using the income approach
a. True
b. False
Indicate whether the statement is true or false
True
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This question concerns the mechanism of a reserve currency standard. Two countries, X and Y, have two currencies, x and y, fixed to the reserve currency, the U.S. dollar. Suppose the exchange rate between x and the U.S. dollar is 3x per dollar
Suppose the exchange rate between y and the U.S. dollar is 5y per dollar. Explain (using numbers) the mechanism if the x-y exchange rate was 0.5 x per y.
Roughly speaking, peak-load pricing makes users at peak times pay for capacity while users at off-peak times pay only for operating cost
Indicate whether the statement is true or false
How do rational expectations models differ from traditional classical economics? How does the new Keynesian model differ from the traditional Keynesian view?
What will be an ideal response?
In the 20th century, the ratio of the U.S. debt to GDP has largely
A. Fallen to its lowest levels during recessions or depressions. B. Risen in response to wars. C. Been inversely related to the deficit to GDP ratio. D. Fallen during wartime compared with prewar levels.