Which of the following items is NOT a component of the income approach to measuring U.S. GDP?
A) interest earned on savings deposits
B) profits made by businesses
C) income earned by businesses that export goods
D) investment
D
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In the current year, a nation's government spending equals $15 trillion and its revenues are $20 trillion. Which of the following is TRUE?
A) The nation's national debt equals $5 trillion. B) This nation has a current year budget surplus of $5 trillion. C) This nation is currently running a budget deficit of $5 trillion. D) The nation has a current year trade surplus of $5 trillion.
The measurement of economic growth cannot take into account
A) the service sector of an economy. B) productive activity in an economy. C) cultural aspects of life in a country. D) differences in inflation rates across countries.
A tax on polluting emissions will
a. provide incentives for firms to reduce the volume of polluting materials. b. raise revenue sufficient to eliminate the deficit. c. necessarily lower the price of the products. d. require no agency to administer the tax.
Government regulators might suspect a firm of engaging in predatory pricing if it charges prices that seem to be too __________
Fill in the blank(s) with correct word