Using the expenditure approach, GDP equals:
a. C + I + G + (X ? M).
b. C + I + G + (X + M).
c. C + I ? G + (X ? M).
d. C + I + G ? (X ? M).
a
You might also like to view...
The AD curve slopes
A) downward due to the wealth and price effects. B) downward due to the wealth and substitution effects. C) upward due to the price and substitution effects. D) upward due to the wealth and substitution effects.
Gasoline taxes illustrate the benefits-received principle of taxation
a. True b. False
In the early 1900s tariffs accounted for ____________ of all federal government revenues, whereas today they account for less than ____________ percent
A) one-tenth; 4 B) half; 0.5 C) one-quarter; 5 D) half; 2
For a monopolist, the quantity effect:
A. is the decrease in revenues from selling a greater quantity at a lower price. B. is the increase in revenues from selling a greater quantity at a lower price. C. is always outweighed by the price effect. D. always outweighs the price effect.