Government expenditures included in the expenditure approach to GDP include ________
A) Social Security and education
B) net exports
C) buying a new bomber
D) Both answers A and C are correct.
C
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Suppose the economy's production function is Y = AK0.3N0.7. When K = 1000, N = 50, and A = 15, what is Y?
A) 1842 B) 6106 C) 750,000 D) 123
Marginal social cost includes both the marginal private cost and the marginal external cost that production imposes on society
a. True b. False
One difference from private insurance programs is that social insurance programs:
A. serve everyone who meets baseline eligibility requirements. B. use a sliding scale of payment based on ability to pay. C. are universally offered to everyone. D. None of these is true.
The Effect of State and Local Government Spending on GDP
What will be an ideal response?