Let C represent consumption expenditure, S saving, I gross private domestic investment, G government expenditure on goods and services, and X - M net exports of goods and services. Then GDP equals
A) C + S + G + X - M.
B) C + S + G - X - M.
C) C + I + G + X - M.
D) C + I + G - X - M.
C
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The costs of the actual bargaining process are called
A) search costs. B) collectivization costs. C) negotiation costs. D) monitoring and enforcement costs.
Holders of __________ bonds can exchange their bonds into shares of the company's common stock at a predetermined price
A) callable B) convertible C) investment grade D) junk
Refer to the above figure. This firm is operating in the
A) long run since economic profits are greater than zero. B) long run since economic profits are less than zero. C) short run since economic profits are greater than zero. D) short run since economic profits are less than zero.
Supply-side economists argue cuts in tax rates
A) always reduce tax revenues. B) may increase tax revenues. C) always increase budget deficits. D) have no effect on tax revenues.