The expenditure on consumption in Berylia during a particular year was $310,000, the expenditure on investment was $180,000, the expenditure incurred by the government was $75,000, the expenditure of foreign economic agents on domestic products was $
80,000, and domestic expenditure on foreign produced goods was $103,000. What is the gross domestic product of Berylia during that year?
A) $542,000 B) $530,000 C) $645,000 D) $479,000
A
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What are two arguments against using the economic method?
a. It is not a fair and diverse approach. b. It is not possible to prove that people behave rationally. c. People do not and should not take only economic factors into their decision making. d. It is too complicated and theoretical.
A return above implicit and explicit costs is called
A. accounting profit. B. economic profit. C. opportunity cost. D. total revenue.
Another example of a personal channel is ___, which is generating positive word-of-mouth discussion
Fill in the blank(s) with the appropriate word(s).
Refer to the information provided in Table 20.3 below to answer the question(s) that follow. Table 20.3
Refer to Table 20.3. If the exchange rate is $1 = 1 euro, then
A. the United States will import both raspberries and chocolate. B. the United States will import chocolate and Belgium will import raspberries. C. Belgium will import both raspberries and chocolate. D. Belgium will import chocolate.