Net domestic product is
A. The market value of all final goods and services produced in the economy after adjusting for depreciation.
B. Equal to GDP minus indirect business taxes.
C. The total market value of all goods produced in the period.
D. Equal to national income minus depreciation.
Answer: A
You might also like to view...
Goods and services that the United States sells to other nations are called
A) exchanges. B) world goods. C) imports. D) exports. E) bartered goods.
Within the IS-LM curve model, if the government cut taxes at the same time that there was an autonomous increase in investment demand, then
a. income would rise and the interest rate would fall. b. income and the interest rate would rise. c. income would rise but the effect on the interest rate is uncertain. d. the interest rate would rise but the effect on income is uncertain. e. the effects on both income and the interest rate are uncertain.
World War II was the first event that provided the federal government with incentive to support labor unions and help them achieve some of their goals
Indicate whether the statement is true or false
If the demand curve for a life-saving medicine is perfectly inelastic, a reduction in supply will cause the equilibrium price to: a. rise and the equilibrium quantity to fall
b. rise and the equilibrium quantity to stay the same. c. rise and the equilibrium quantity to rise. d. stay the same and the equilibrium quantity to fall.