Which of the following will lead to an increase in the gross domestic product of a country, all other variables remaining unchanged?
A) An increase in imports
B) An increase in consumption expenditure
C) A fall in the expenditure incurred by the government
D) A fall in the expenditure on investment goods
B
Economics
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The time consistency problem implies that
A) the central bank should not commit. B) central bank commitment is useful. C) discretion is better than tying your hands. D) there are problems we cannot solve.
Economics
Suppose the labor market is perfectly competitive, but the output market is not. When the labor market is in equilibrium, the wage rate will:
A) be less than price times the marginal product of labor. B) equal price times the marginal product of labor. C) be greater than price times the marginal product of labor. D) None of the above is necessarily correct.
Economics