Which of the following are the components of the income approach to GDP?
a. wages, rents, interest, profits, investments, net exports
b. wages, rents, interest, profits, depreciation, indirect business taxes
c. wages, rents, investment, profits, depreciation, net exports
d. wages, rents, investment, profits, net exports, indirect business taxes
b. wages, rents, interest, profits, depreciation, indirect business taxes
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Firms often seek to borrow money to expand their capital stock, and the price they pay for that money is the interest rate. What happens to the quantity of money supplied if the interest rate increases?
A. It increases. B. It decreases. C. It does not change. D. It depends entirely on the interest rate.
An imperfectly competitive firm has the following demand curve: Q = 100 - 2P. What is marginal revenue equal to when P = 40?
What will be an ideal response?
In order for "limit pricing" to be effective, the firm practicing such a strategy must be able to charge a price that is:
A) lower than the potential entrant's ATC but greater than the firm's own ATC. B) greater than the potential entrant's ATC but lower than the firm's own ATC. C) lower than the potential entrant's ATC but greater than the firm's own AVC. D) greater than the potential entrant's ATC but lower than the firm's own AVC.
It is difficult to make the concept of need useful because it is difficult to define and compare "needs" among people
a. True b. False Indicate whether the statement is true or false