Which of the following is NOT included in the expenditure approach to calculating GDP?
A) investment
B) wages
C) consumption expenditure
D) government expenditures on goods and services
E) net exports of goods and services
B
You might also like to view...
Price cap regulation is defined as regulation that
A) imposes a price ceiling on the regulated firm. B) encourages firms to exaggerate costs to increase profits. C) uses marginal cost pricing to ensure efficient output. D) uses average cost pricing to ensure costs are covered. E) is essentially the same as rate of return regulation.
Refer to the scenario above. The principal in this case is ________
A) $10 B) $300 C) $3,000 D) $3,300
Given that Sandy can produce 10 economics reports or make 2 sales calls and Tim can produce 2 economics reports or make 1 sales call, we can conclude that
A) Sandy should specialize in economics reports, and Tim should specialize in sales calls. B) Sandy should produce both economics reports and sales calls since she cannot possibly gain from trade with Tim. C) Tim should specialize in producing economics reports, and Sandy should specialize in producing sales calls. D) Tim should produce both economics reports and sales calls.
If events A and B are independent, then Pr[A and B] will be:
a. Pr[A]Pr[B]. b. Pr[A]-Pr[B]. c. Pr[A]?Pr[B]. d. Pr[A]?Pr[B].