Economic discrimination occurs when two equal factors of production are paid differently.
Answer the following statement true (T) or false (F)
True
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The expenditures or output approach to GDP measures it by summing up ________.
A. the total spending for consumption, investment, net exports, and government purchases B. compensation of employees, rents, interest, dividends, corporate profits, proprietors' income, and indirect business taxes and subtracting the consumption of fixed capital C. compensation of employees, rents, interest, dividends, undistributed corporate profits, proprietors' income, indirect business taxes paid, consumption of fixed capital, and net foreign factor income earned in the United States D. the total spending for consumption and government purchases but subtracting public and private transfer payments
A decrease in the capital gains tax on income made from new capital investment will:
A. shift the demand for investment curve to the right. B. shift the supply of saving curve to the left. C. shift the demand for investment curve to the left. D. shift the supply of saving curve to the right.
The 3 key economic questions include all of the following EXCEPT
A) "how do we produce these products?" B) "where should these products be produced?" C) "who consumes the products?" D) "what products do we produce?"
Kelly's marginal utilities for magazines and packages of gummy bears are listed in the table above. For Kelly, what is the total utility received from consuming 5 magazines?
A) 5 B) 20 C) 25 D) 255