Your full-time accountant retires, so you hire a part-time accounting student at a much lower wage. As a result, GNP will:
A) rise.
B) remain unchanged.
C) fall.
D) none of the above.
Correct Answer:
Verified
Q20: In a simple circular flow model of
Q21: The circular flow without taxation, government spending
Q22: The simple circular flow model shows that:
A)
Q23: In the circular flow model, the factors
Q24: An economic system's factors of production:
A) are
Q26: When hiring the factors of production to
Q27: In the absence of government and foreign
Q28: All the following statements are correct except:
A)
Q29: Double counting can be avoided when computing
Q30: Which of the following statements is false?
A)
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