The three approaches to measuring economic activity are the
A. consumer, business, and government approaches.
B. cost, income, and expenditure approaches.
C. product, income, and expenditure approaches.
D. private, public, and international approaches.
Answer: C
You might also like to view...
________ occurs when a foreign firm sells its exports at a lower price than its cost of production
A) Dumping B) The trickle-down effect C) Rent seeking D) Tariff avoidance E) Nontariff barrier protection
Turnover taxes are inefficient because _____
a. they are easy to avoid b. they violate the ability-to-pay principle c. they violate the benefit principle d. they tax the same good multiple times
When firms internalize a negative externality, the market supply curve shifts to the left
a. True b. False Indicate whether the statement is true or false
A federal budget deficit exists when federal government
A. spending exceeds tax revenues in a given year. B. spending is increasing in a given year. C. assets are less than liabilities in a given year. D. taxation is decreasing in a given year.