Discuss the components of GDP using the expenditure approach
GDP equals consumption spending plus investment spending plus government spending plus net exports; GDP = C + I + G + (X ? M).
You might also like to view...
How has economist Robert Fogel explained that economic growth is connected to life expectancy? Based on this connection, in what country would you expect to have a longer life expectancy, the United States or India? Explain
What will be an ideal response?
Technological changes that decrease minimum efficient scale
a. reduce concentration b. increase concentration c. increase product diversification d. increase the value of existing assets e. decrease the exchange rate
To eliminate a recessionary gap the Fed typically uses __________ monetary policy, and to eliminate an inflationary gap the Fed typically uses __________ monetary policy
A) expansionary; expansionary B) expansionary; contractionary C) contractionary; contractionary D) contractionary; expansionary
In the Cournot model, each firm's ________ shows the firm's optimal, profit-maximizing output given its rival's output.
A. dominant strategy B. collusive response C. price leadership decision D. reaction function