When GDP is measured as the total payments made to households that furnish the resources used to produce the final goods and services, it is known as:
a. the income approach.
b. the expenditure approach.
c. the depreciation approach.
d. the aggregate demand approach.
e. net national product.
a
Economics
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Firms try to capture consumer surplus by
A) repeat Nash equilibrium games. B) finding markets with many competitors. C) exploiting suppliers. D) personalized pricing.
Economics
Is it correct to say that if the total balance of payments does not equal zero, then the reserves account will automatically adjust to ensure it equals zero
a. Yes. b. No. c. The answer is "maybe" because it always depends on the circumstances.
Economics