In computing GDP, it is essential to
A) avoid double counting.
B) include government transfer payments.
C) include government tax revenues.
D) count all intermediate products directly as they are produced.
A
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The velocity of money
A) is, according to the equation of exchange, equal to M/Y. B) indicates the number of times per year a dollar is spent on final goods and services. C) is, according to the equation of exchange, equal to P/M. D) indicates the speed with which the U.S. Treasury can mint new coins.
In the above figure, if the market is in equilibrium, area A + area B + area C equals
A) total surplus. B) consumer surplus. C) deadweight loss. D) producer surplus. E) total revenue.
The GI Bill provided educational opportunities to many young men returning from military service. Using a production possibilities curve, demonstrate how the GI Bill affected economic growth and explain your answer
Tuition is the single-largest cost of attending college for most students
a. True b. False Indicate whether the statement is true or false