The government's budget accounts for about 80 percent of GDP in the United States
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
If your business earns $10,000 in revenues, has explicit costs of $7,000, and implicit costs of $5,000, your accounting profit is
A) $2,000. B) -$2,000. C) $5,000. D) $3,000.
In the United States, there are a number of programs that provide goods and services, such as food, medical care, and housing, to the poor. How could income standards be changed, in light of these programs, to better reflect absolute poverty? a. The income standards should not change because these programs provide goods and services, not money. b. The income standards should be increased, since
it costs money to provide these goods and services. c. The income standards should be increased, because these programs will affect the relative measure of poverty. d. The income standards should be decreased, since program recipients require less income to meet a minimum standard of living.
A separate average revenue curve is not required when you have the demand curve for a firm. Explain
If nominal GDP is $200 billion and the stock of money is $40 billion, the velocity is 5.
Answer the following statement true (T) or false (F)