Which of the following examples could be included in the income approach to GDP?
a. a salary of $50,000 a year for working as a librarian
b. a payment of $20 for a T-shirt
c. spending $15 on imported beer
d. the cost of $1 million for building a steel factory
a. a salary of $50,000 a year for working as a librarian
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The U.S. Congress passed legislation in the late 1800 . that established land-grant universities to educate citizens in agriculture, home economics, mechanical arts, and other practical professions. Two important missions for land-grant universities are education and research. Explain how the establishment of land- grant universities has affected the growth of the U.S. economy
The rule of 70 applies to a growing savings account but not to a growing economy
a. True b. False Indicate whether the statement is true or false
Using the information in the above table, the value of M2 is
A. $4,600. B. $3,600. C. $3,800. D. $5,500.
Which of the following is NOT a characteristic of monopolistic competition?
A) a large number of sellers in a highly competitive market B) differentiated products C) the existence of advertising D) marginal cost pricing in the long run