Which of the following is likely to lead to an increase in the gross domestic product of a country?
A) An increase in the tax rates in the country
B) An increase in the interest rate in the country
C) An increase in the capital stock of the economy
D) An increase in the unemployment rate in the country
C
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Suppose GDP is $10 billion, consumption expenditure is $7 billion, investment is $2 billion, and government expenditure on goods and services is $2 billion. Net exports of goods and services must be
A) $1 billion. B) -$2 billion. C) -$1 billion. D) $2 billion. E) $10 billion.
Refer to Table 7-3. Select the statement that accurately interprets the data in the table
A) Mateo has an absolute advantage in making spurs. B) Mateo has an absolute advantage in making saddles and Celeste has an absolute advantage in making spurs. C) Celeste has an absolute advantage in making saddles. D) Mateo has an absolute advantage in making spurs and Celeste has an absolute advantage in making saddles.