National income equals gross national product minus
A) imports.
B) depreciation.
C) inventories.
D) changes in inventories.
Answer: B
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Money spent on the purchase of a newly constructed house is included in GDP as a part of ________.
A. household expenditures on durable goods B. personal saving C. gross domestic private investment D. personal consumption expenditures
If an economy's capital stock is greater at the end of the year than at the beginning of the year, over this period,
a. net investment has been positive. b. depreciation has exceeded net investment. c. depreciation has exceeded gross investment. d. net investment has exceeded gross investment.
The $1.90 (PPP) per day line was chosen by averaging the national poverty lines of 15 poor countries to represent:
A. relative poverty by some globally comparable standard. B. chronic poverty by some globally comparable standard. C. transient poverty by some globally comparable standard. D. absolute poverty by some globally comparable standard.
If the price level in an economy turns out to be higher than that expected by workers and firms, firms _____
Fill in the blank(s) with the appropriate word(s).