If the U.S. government reports that GDP in the third quarter was $16 trillion at an annual rate, then the amount of income and expenditure during quarter three was $4 trillion
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Looking at the annual inflation rates in the United States from 2000 to 2013, we see that they
A) were above 10 percent throughout the period. B) were at or below 5 percent throughout the period and was negative for a year. C) started low, but increased to over 9 percent by the end of the period. D) started out above 10 percent but fell to 5 percent by the end of the period. E) were negative for most of the years during this period.
Use Figure 13.1 above to help with the following question. Why is it true that at every level of output except the first unit, the monopolist's marginal revenue (MR) is below price
What will be an ideal response?
Economists study perfect competition
a. because many markets are perfectly competitive. b. for its descriptive realism. c. to establish a benchmark by which to measure the performance of the economy. d. All of the above are correct.
All other things remaining the same, a large increase in the net number of Mexican immigrant workers in the United States from Mexico causes:
a. U.S. GNP to be greater than the U.S. GDP. b. U.S. GNP to be less than the U.S. GDP. c. U.S. gross private domestic investment to rise. d. U.S. GNP to be greater than the U.S. GDP because U.S. gross private domestic investment rises