The two main methods of measuring GDP are
A. the income approach and the expenditure approach.
B. the income approach and the receipts approach.
C. the saving approach and the investment approach.
D. the goods approach and the services approach.
Answer: A
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The market for unskilled labor is illustrated in the figure above. The market is in equilibrium and then a minimum wage of $3 per hour is imposed. Employment will decrease by
A) 0 hours. B) 10 million hours per year. C) 20 million hours per year. D) 30 million hours per year.
Calculate the dollar price of a German automobile worth 40,000 euros, if the dollar per euro exchange rate is 1.5
a. $41,500 b. $26,700 c. $60,000 d. $50,000 e. $38,500
According to the new Keynesian school of thought, fiscal policy is a completely ineffective tool in combating supply-side shocks
a. True b. False Indicate whether the statement is true or false
If Samantha quits her job voluntarily and actively searches for other work, then she is considered
A. not to be unemployed. B. structurally unemployed. C. frictionally unemployed. D. cyclically unemployed.