GDP measures:

a) A country's income
b) A country's wealth
c) Consumer spending
d) Net trade income


Answer: a) A country's income

Economics

You might also like to view...

A production or consumption quota that can be bought or sold is called:

A. a buyers' or sellers' quota. B. a tax. C. a tradable allowance. D. a subsidy.

Economics

Suppose you were working for Richstone's bakery and calculating whether the bakery was making a profit, considering the recent increase in rent. You have data for price (P), MR, ATC, MC, AVC, at the quantity of 1,000 breads a day. The firm's total profit is calculated by

a. P – AVC b. P – ATC c. P – MC d. (P – ATC)Q e. TR – TVC

Economics

Within an occupation, when a given job provides steadier work (fewer layoffs), the hourly wage tends to be

a. no different from wage rates in jobs that are otherwise similar. b. lower than wage rates in jobs that are otherwise similar. c. higher than wage rates in jobs that are otherwise similar. d. determined by factors other than supply and demand.

Economics

Most policy makers agree that in the long run, changes in the money supply influence _____

Fill in the blank(s) with the appropriate word(s).

Economics