Answer the question on the basis of the following data. All figures are in billions of dollars. Proprietor's Income 20 Compensation of Employees 300 Consumption of Fixed Capital 15 Gross Investment 80 Rents 10 Interests 20 Exports 30 Imports 50 Corporate Profits 25 Taxes on Production and Imports 5 Net Foreign Factor Income 0 Statistical Discrepancy 0 Refer to the above data. Gross domestic product is:
a) $395.
b) $380.
c) $375.
d) $360.
a) $395.
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An unexpected fall in Housing Starts should send bond prices __________ and stock prices __________
A) up; up B) up; down C) down; up D) down; down
Which of the following is a statement of positive economics?
a. Too much government spending is the biggest problem facing the U.S. economy. b. Creating jobs is the most serious problem facing the U.S. economy. c. Raising taxes provides additional revenue that should be used to finance health care. d. If taxes are over 50 percent of national income, job creation falls.
Since there are smaller fluctuations in the equilibrium prices of final goods than in the prices of intermediate goods, the producer price index is more volatile than the consumer price index
a. True b. False Indicate whether the statement is true or false
A common explanation for the behavior of the short-run U.S. Phillips curve in 2009 and 2010 is that, over the previous 20 or so years, the Federal Reserve had
a. established a lot of credibility in its commitment to keep inflation at about 2 percent. b. established a lot of credibility in its commitment to keep inflation at about 5 percent. c. failed to establish significant credibility in its announced intent to keep inflation at about 2 percent. d. failed to establish significant credibility in its announced intent to keep inflation at about 5 percent.