Which one of the following is not a component of GDP, as measured using the expenditure approach?
a. Personal consumption.
b. Exports.
c. Durable goods.
d. Government spending.
e. Interest.
e
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A market structure in which many firms compete by making similar but slightly different products is called
A) perfect competition. B) monopolistic competition. C) oligopoly. D) monopoly.
Which of the following is excluded in the current account?
a. Goods exports. b. Goods imports. c. Capital inflow and outflow. d. Net unilateral transfers.
An increase in the price of a good will a. increase demand
b. decrease demand. c. increase quantity demanded. d. decrease quantity demanded.
When dealing with strategic trade policy, one practical problem for government is the likelihood of retaliation by the foreign government
a. True b. False Indicate whether the statement is true or false