Your visit to the dentist, college tuition, and any commissions earned by a used car salesman are all included in GDP.
Answer the following statement true (T) or false (F)
True
Any market transaction that adds value to final output is included in GDP.
You might also like to view...
What is the Degree of Operating Leverage?
What will be an ideal response?
Which of the following statements is true?
a. A sales tax on food is a regressive tax. b. The largest source of federal government tax revenue is individual income taxes. c. The largest source of state and local governments tax revenue is sales and excise taxes. d. All of the above are true. e. None of the above are true.
Which of the following constitutes a transfer payment?
a. Income taxes b. Corporate salaries c. Fiscal spending d. Dividend payments e. Welfare benefits
Explain why some argue that income tax loopholes primarily benefit the rich