Wages are used to calculate
A. GDP by the expenditures approach.
B. Net exports.
C. Net subsidies to government enterprises.
D. GDP by the income approach.
D. GDP by the income approach.
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An "unemployment spell" is a period during which:
A. an unemployed individual leaves the labor force and then returns. B. an individual is continuously unemployed. C. the unemployment rate exceeds 15 percent. D. the unemployment rate is less than 10 percent.
In the Keynesian model, to understand the determination of income and employment it is necessary to understand
A) how aggregate supply is determined. B) how aggregate demand is determined. C) how long-run aggregate supply is determined. D) how interest rates are determined.
Which countries undertook economic reforms in the 1960's that resulted in more economic freedom and stronger economic growth?
a. Venezuela and Zimbabwe b. Malawi and Niger c. Hong Kong and Singapore d. United States and Switzerland
Use the following table to answer the next question.YearReal GDPPopulation2008$20,000200200940,000400201060,000400201170,000500Real GDP per capita ________ between 2010 and 2011.
A. remains constant B. increases C. decreases D. cannot be calculated