According to the circular-flow diagram GDP
a. can be computed as the total income paid by firms or as expenditures on final goods and services.
b. can be computed as the total income paid by firms, but not as expenditures on final goods and services.
c. can be computed as expenditures on final goods and services, but not as the total income paid by firms.
d. cannot be computed as either total income paid by firms or expenditures on final goods and services.
a
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In the balance sheet for the FBN bank above, the entries are in millions of dollars. If the desired reserve ratio equals 10 percent, FBN Bank has excess reserves of
A) $280 million. B) $200 million. C) $360 million. D) $0.
What are the commonly used arguments for the use of tariffs?
The primary criterion used to analyze the desirability of outcomes in Economics is
a. sustainability b. equity. c. predictability. d. efficiency.
The individual demand curve for an input such as labor to a firm would be the downward sloping portion of the firm's
A) marginal physical product curve. B) marginal revenue product curve. C) marginal revenue curve. D) total revenue curve.