National income can be calculated by subtracting
a. depreciation from GDP.
b. indirect business taxes from GDP.
c. depreciation and indirect business taxes from GDP.
d. transfer payments and taxes from GDP.
c
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Sam's Scarves has 2 knitting machines and employs 2 people. They produce 15 scarves a day. If the firm hires an additional person, the 3 workers can produce 19 scarves a day other things remaining the same
The market for scarves is perfectly competitive and the price of a scarf is $20. The value of marginal product of the third worker is ________. A) $80 B) $300 C) $380 D) 4 scarves
The international bank deposit and loan market is called the
A) International Banking Facilities. B) Eurocurrency market. C) Foreign exchange market. D) IMF loans and deposits.
Every choice has a cost
a. True b. False Indicate whether the statement is true or false
The identity that shows that total income and total expenditure are equal is
a. GDP = Y. b. Y = DI + T + NX. c. GDP = GNP - NX. d. Y = C + I + G + NX.