If Robert works as a lawyer, how should his contributions to GDP be calculated?
A) using his income from providing legal services, not his expenditure on goods and services
B) using his expenditure, not his income
C) using both his income and his expenditure
D) using either his income or his expenditure, not both
Correct Answer:
Verified
Q12: Why is GDP computed using market prices
Q14: Which of the following is the correct
Q15: What is the goal of macroeconomics?
A)to explain
Q16: Which of the following topics are studied
Q17: In an economy consisting of only households
Q19: According to the simple circular-flow model, which
Q20: What do macroeconomists study?
A)decisions of households and
Q21: If Susan decides to change the oil
Q22: Which of the following is NOT included
Q23: Roommates Grace and Kelly are sharing household
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