Government purchases are defined as
A) only goods purchased by federal, state, or local governments.
B) all goods and services purchased by the federal government.
C) all goods and services purchased by the federal or state government.
D) all goods and services purchased by the federal, state, or local government.
E) goods and services purchased from the government.
Correct Answer:
Verified
Q16: National income equals GNP
A) less depreciation, less
Q17: A country's gross national product (GNP) is
A)
Q18: In open economies
A) saving and investment are
Q19: Purchases of inventories by
A) firms are not
Q20: GDP is supposed to measure
A) the volume
Q22: An open economy
A) can save only by
Q23: Over the 1980s
A) there is no question
Q24: In 1929, government purchases accounted for
A) only
Q25: For open economies,
A) S = I.
B) S
Q26: Disposable income is national income
A) less taxes
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