To calculate GDP by the expenditure method, one must add
A) wages, rents, interest, and profits.
B) consumption spending, investment spending, government spending, and net exports.
C) labor, natural resources, entrepreneurship, and capital.
D) consumption spending, investment spending, government spending, and exports.
B
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Which of the following is a better measure of the productivity of employed people in a country?
A) Gross Domestic Product B) Gross National Product C) Income per worker D) Income per capita
Which of the following would NOT be a result of a contractionary monetary policy?
A) Interest rates would rise. B) Foreign goods would become more expensive to U.S. residents. C) Net exports would decline. D) Imports would rise.
If the free-rider problem affects political advocacy, the result may be that the:
A. best ideas will always win because those supporters value the outcome the most. B. best ideas will always win because free-riders are not typically supporters of relevant alternatives. C. best ideas might not win out if lots of people fail to lend their support. D. irrelevant alternatives are eliminated from the options, increasing the efficiency of the vote.
The goal of the consumer price index is to gauge how much incomes must rise to maintain a constant standard of living
a. True b. False Indicate whether the statement is true or false