Net domestic product is the total value of
A) all final goods and services produced within a country's borders in a year.
B) only intermediate goods produced within a country's borders in a year.
C) all final goods and services produced within a country's borders in a year minus gross private domestic investment.
D) only intermediate goods produced within a country's borders in a year plus gross private domestic investment.
E) all final goods and services produced within a country's borders in a year minus capital consumption allowance.
E
You might also like to view...
If a person is earning $80,000 per year as a dentist and could earn at most $45,000 per year doing something else, his transfer earnings are ____, whereas his economic rent is ____
a. $45,000 . $35,000 b. $80,000 . $45,000 c. $45,000 . $80,000 d. $80,000 . $35,000 e. $35,000 . $45,000
Which of the following will be recorded as a credit entry in the U.S. balance of trade in merchandise account?
a. A U.S. car manufacturer selling a car to a resident of India. b. A French wine manufacturer selling wines to a distributor in Seattle. c. A U.S. investor investing in Japanese stocks. d. A U.S. steel manufacturer importing iron ore from Zambia. e. A U.S. resident buying diamonds from a diamond manufacturer in Kenya.
A price floor in a competitive market will result in persistent shortages of a product.
Answer the following statement true (T) or false (F)
For a risk-averse individual, marginal utility of income does not diminish.
Answer the following statement true (T) or false (F)