The factor payments measure of GDP
a. can be expressed as GDP = C + I + G + NX
b. is found by summing all expenditures on intermediate and final goods and services during the year
c. calculates how much value was added at each stage of production
d. is found by summing all interest, rent, profit, and wages and salaries generated during the year
e. calculates how much workers paid for goods and services during the year
D
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If the cross-price elasticity of demand between blueberries and yogurt is negative, then the two goods are:
A. normal goods. B. inferior goods. C. substitutes. D. complements.
Which of the following will shift the supply curve for laptop computers to the left?
A) development of a cheaper microchip used in laptop computer production B) a subsidy to the laptop computer industry C) expectations of a future decline in laptop computer prices D) a reduction of the number of firms that make laptop computers
Demand for cocaine is unit Elastic, price of cocaine were to rise 10%,
a. Quantity consumed would fall 10% b. Dealer income from the sale of cocaine would fall 10% c. ANSWER is both FALSE
A decline in the demand for labor means the unemployment rate must rise.
Answer the following statement true (T) or false (F)