Using the income approach, the largest portion of GDP is:
a. employee compensation.
b. net interest.
c. rent.
d. profits.
e. depreciation.
a
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Suppose the market demand function for ice cream is Qd = 10 - 2P and the market supply function for ice cream is Qs = 4P - 2, both measured in millions of gallons of ice cream per year. Suppose the government imposes a $0.50 tax on each gallon of ice cream. The producer surplus after the tax is:
A. $3.56 million. B. $4.50 million. C. $1.89 million. D. $7.11 million.
Certain goods are related such that an increase in the price of one good decreases the quantity demanded of the other. These goods are
a. complements. b. substitutes. c. luxury goods. d. competing goods.
A ________ money supply curve implies that the quantity of money supplied is independent of the interest rate
a. horizontal b. vertical c. upward sloping d. downward sloping
Which of the following statements is true?
A. Leverage increases expected return and increases risk. B. Leverage increases expected return and reduces risk. C. Leverage decreases expected return and increases risk. D. Leverage decreases expected return but has no effect on risk.