According to the circular-flow diagram GDP
A) can be computed as the total income paid by firms or as expenditures on final goods and services.
B) can be computed as the total income paid by firms,but not as expenditures on final goods and services.
C) can be computed as expenditures on final goods and services,but not as the total income paid by firms.
D) cannot be computed as either total income paid by firms or expenditures on final goods and services.
Correct Answer:
Verified
Q17: Income generated by a nation's domestic production
A)is
Q18: For an economy as a whole,income must
Q19: Which of the following statements about GDP
Q22: In the simple circular-flow diagram,with households and
Q23: According to the circular-flow diagram,GDP
A)can be computed
Q24: For an actual economy,total expenditures on goods
Q26: Total income from the domestic production of
Q27: According to the circular-flow diagram GDP
A)can be
Q142: Because every transaction has a buyer and
Q152: In the actual economy, goods and services
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents