________ is/are the market value of final goods and services produced within a country during a given period of time.
A. Consumption
B. Value added
C. GDP
D. Transfer payments
Answer: C
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To maintain a price below the equilibrium price,
a. demand must increase. b. supply must increase. c. the government must set a ceiling price. d. supply must decrease.
Earmarked taxes _____
a. are taxes whose revenues are dedicated to a particular program b. are taxes whose revenue is given to a specific group c. are income taxes that minimize the decline in labor supply d. are taxes that go into the general fund
___________ is a winning strategy in a game of bargaining.
A. First-mover advantage B. Patience C. Cooperation D. Self-interested behavior
In the classical model, a basic theoretical feature of self-regulating markets was that
a. unsold inventory and labor unemployment would cause prices and wages to increase. b. lower wages and prices would eliminate unemployment and unsold inventory. c. unsold inventory would never occur. d. an increase in planned saving would cause an increase in the interest rate and a decrease in investment.