GDP does count:
a. state and local government purchases.
b. spending for new homes.
c. changes in inventories.
d. none of these.
d
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The above figure shows the marginal private cost curve, marginal social cost curve, and marginal social benefit curve for raising goats on a common pasture
A quota to prevent the overuse of the common pasture sets the number of goats to be raised equal to ________. A) 0 goats B) 40 goats C) 50 goats D) 55 goats
Since 1960, real GDP has fluctuated to some extent; however, there has been virtually no overall growth when the entire time span is considered
a. True b. False
If the amount of taxes > outlays
What will be an ideal response?
Briefly explain how scarcity works in the public sector. Give an example that is not in the text.
What will be an ideal response?