Which of the following is NOT true of GDP?
A. Total production of new goods and services
B. Includes real and financial assets
C. Includes expenditures on goods and services
D. Includes incomes produced in production
Ans: B. Includes real and financial assets
You might also like to view...
Except for recessions, the duration of unemployment for the typical person lasts
A) less than six months. B) six to nine months. C) over nine months. D) over one year. E) over five years.
Fiscal policy analysis indicates that large tax increases during a severe recession will result in
a. an increase in the incentive to earn and the maintenance of a balanced federal budget. b. higher tax revenues and an expansion in government spending. c. smaller budget deficits, which will speed an economic recovery. d. a reduction in aggregate demand and a worsening of the recession.
Another problem is that too much government spending
What will be an ideal response?
Which of the following costs is independent of output?
A. Variable costs B. Fixed costs C. Marginal costs D. Total costs