The total market value of all goods and services produced by factors of production within a nation is called
A. gross domestic income.
B. value added.
C. gross output.
D. gross domestic product.
Answer: C
You might also like to view...
The table below shows the utility schedule for a consumer of candy bars. Candy Bars ConsumedTotal Utility001529312414515615713Based on the data in the above table you can conclude that the
A. marginal utility of the third unit is 4 utils. B. total utility of 2 units is 4 utils. C. marginal utility of the fourth unit is 14 utils. D. marginal utility of the sixth unit is 0 utils.
The median voter model implies that
A) people in the political middle will be dissatisfied with the amount of spending on government funded projects. B) spending on government funded projects reflects the preferences of only those far away from the median. C) many people will be satisfied with the amount of spending on government funded projects. D) many people will be dissatisfied with the amount of spending on government funded projects.
Secondary effects are consequences of economic actions that develop slowly over time as people react to events
a. True b. False
Irish aid to developing countries appears in the Balance of Payments as:
(a) A credit item in the current account; (b) A debit item in the current account; (c) A debit item in the capital account; (d) A debit item in the financial account.