The expenditure approach to measuring GDP sums
A) consumption, investment, government purchases, and net exports.
B) sales, revenues, income, and wages.
C) profits, compensation of employees, consumption, and investment.
D) net exports, consumption, wages, and salaries.
E) consumption, interest, net exports, and federal government purchases
A
You might also like to view...
How are total and marginal utility related?
What will be an ideal response?
Automatic stabilizers are government programs that:
a. exaggerate the ups and downs in aggregate demand without legislative action. b. bring expenditures and revenues automatically into balance without legislative action. c. shift the budget toward a deficit when the economy slows but shift it toward a surplus during an expansion. d. increase tax collections automatically during a recession.
In an effort to prepare for war, the Defense Department is required by Congress to stockpile helium, once used to provide lift for blimps (phased out in the 1960s). About 100 years of total U.S. usage of helium is in storage. The Pentagon agrees to buy helium from producers at a price above what would otherwise prevail in the marketplace. Is this likely to result in efficiency? Explain.
What will be an ideal response?
In an hour Jane can solder 50 connections or inspect 20 parts while Jim can solder 25 connections or inspect 20 parts in an hour
A) Jane has a comparative advantage over Jim in both soldering and inspecting. B) Jane has a comparative advantage over Jim in soldering while Jim has a comparative advantage in inspecting. C) Jim has a comparative advantage over Jane in soldering while Jane has a comparative advantage in inspecting. D) Jim had a comparative advantage over Jane in both soldering and inspecting.