Because of a major hurricane, gross domestic product for the first quarter of the calendar year falls by 10 percent. As a result, gross domestic income
A) falls by less than 10 percent.
B) also falls by 10 percent because they always have to be equal.
C) falls by more than 10 percent because incomes always vary more than GDP.
D) would not change since the time span is less than a year.
Correct Answer:
Verified
Q239: A capital good is
A) a good that
Q240: A durable good
A) has a life span
Q241: Using the expenditure approach, GDP is calculated
Q242: Net investment refers to
A) the change in
Q243: Indirect business taxes include all of the
Q245: Excluding indirect business taxes and depreciation, Gross
Q246: If consumption expenditures are $500 million, spending
Q247: If, in an economy, households receive $200
Q248: All of the following are included in
Q249: The computation of GDP by adding up
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