GDP using the expenditure approach equals the sum of personal consumption expenditures plus
A) gross private investment.
B) gross private investment plus government expenditure on goods and services.
C) gross private investment plus government expenditure on goods and services minus imports of goods and services.
D) gross private investment plus government expenditure on goods and services plus net exports of goods and services.
D
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In a partnership, the owners of the business and the business are ________, and in a sole proprietorship, the owner of the business and the business are ________
A) not separate legal entities; also not separate legal entities B) separate legal entities; also separate legal entities C) not separate legal entities; separate legal entities D) separate legal entities; not separate legal entities
In May 1991, the FDIC announced that it would sell the government's final 26% stake in Continental Illinois, ending government ownership of the bank that it had rescued in 1984
The FDIC took control of the bank, rather than liquidate it, because it believed that Continental Illinois A) was a good investment opportunity for the government. B) could be the Chicago branch of a new governmentally-owned interstate banking system. C) was too big to fail. D) would become the center of the new midwest region central bank system.
Most markets in the U.S. economy are perfectly competitive
Indicate whether the statement is true or false
Why is it difficult for economists to predict the price and output policy that will emerge in oligopolistic markets?
a. Economists cannot determine if barriers to entry exist in a market. b. Economists cannot predict the reactions that firms will have to the actions and decisions of other firms. c. The government prevents economists from acquiring the information that would lead to good predictions. d. Firms have a set price and output policy, but the policy is concealed to discourage competition.