The "statistical discrepancy" that the NIPA includes in the data is to account for the following, except:
A. To equalize GDP totals produced by the expenditures approach and the income approach
B. Errors due to people misrepresenting their incomes on their tax returns
C. Difficulty in accurately estimating depreciation
D. Household production, or "do-it-yourself" activities of households
D. Household production, or "do-it-yourself" activities of households
You might also like to view...
If taxes and government expenses did not vary with income, then income would
A. be less stable. B. be more stable. C. not change. D. be closer to potential income.
In the long run a perfectly competitive firm operates ____ and a monopolistically competitive firm operates ____
a. at the efficient scale; with excess capacity b. at the efficient scale; at the efficient scale c. with excess capacity; with excess capacity d. with excess capacity; at the efficient scale
What is the equation for GDP?
Which of the following statements about trade is false?
a. Trade increases competition. b. With trade, one country wins and one country loses. c. Bulgaria can benefit, potentially, from trade with any other country. d. Trade allows people to buy a greater variety of goods and services at lower cost.