Double counting occurs when:
A) inputs are included in the calculation of the gross domestic product.
B) household production is included in the calculation of the gross domestic product.
C) depreciation is included in the calculation of the gross domestic product.
D) unsold inventories are included in the calculation of the gross domestic product.
A
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The government expenditure multiplier is the magnification effect of a change in government expenditure on
A) aggregate demand. B) the budget deficit. C) tax receipts. D) aggregate supply. E) potential GDP.
Models are simplifications that are used to observe the workings of a system
a. True b. False Indicate whether the statement is true or false
Which of the following imposed regulation on its industry?
A. Bus Regulatory Reform Act of 1982 B. Staggers Rail Act of 1980 C. Motor Carrier Act of 1982 D. Interstate Commerce Act of 1887.
A European Union official, Mr. McGreevey, claims a portion of EU law involves overregulation. McGreevey is suggesting the EU suffers in part from:
A. government failure. B. market failure. C. fairness. D. the rule of law.