What are the four categories used to group spending for the expenditure approach?
a. depreciation, investment, government purchases, net imports
b. consumption, investment, government purchases, net exports
c. depreciation, investment, taxes, net imports
d. consumption, investment, taxes, net exports
b. consumption, investment, government purchases, net exports
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Reliance on expert opinion to predict consumer behavior has the advantage of being a relatively low cost approach to gathering information. In many situations, however, it is subject to several sources of bias that can undermine its reliability
Indicate whether the statement is true or false
The table below represents Freedonia's macroeconomic data for Year 1 and Year 2.
Suppose that the production function is given by Y = AK0.25N0.75. Between Year 1 and Year 2, total factor productivity of Freedonia's economy increased by
A. 5.5%. B. 12.7%. C. 5.0%. D. -1.5%.
What are the prospects for domestic capital formation in DVC?
What will be an ideal response?
The given data would graph as:
A. a straight line for Alpha but as a concave curve for Omega.
B. a concave curve for Alpha but as a straight line for Omega.
C. concave curves for both Alpha and Omega.
D. straight lines for both Alpha and Omega.