The GDP of a country can be derived by summing the:
a. expenditures on final goods and services produced domestically during the year.
b. payments to employees and owners of capital resources and then subtracting depreciation and indirect business taxes.
c. market value of all goods and services produced domestically during the period and then subtracting net exports from that figure.
d. income payments to the resource suppliers and net exports.
a
You might also like to view...
The demand curve shown in the figure above is ________ over the price range from $95 to $105 per tri
A) perfectly elastic B) perfectly inelastic C) unit elastic D) elastic but not perfectly elastic E) inelastic but not perfectly inelastic
According to the Laffer curve, an increase in marginal tax rates
a. reduces total tax revenue. b. increases total tax revenue c. reduces total tax revenue when marginal tax rates rise past a certain point. d. indicates that labor supply does not respond to changes in tax rates.
Which of the following is the least accurate?
a. European nations purchased large quantities of munitions and food at ever-rising prices form the U.S. b. The financial center of the world shifted from New York before the war to London and Paris after the war. c. The gap between Europe's imports from the U.S. and exports to the US rose dramatically. d. The war was immensely profitable for many U.S. corporations.
What is one of the concerns of opponents of inflation?
a. Indexing is always partial. b. Indexing is always fair. c. Indexing is sometimes partial. d. Indexing is sometimes fair.