In the simple circular-flow diagram, with households and firms, GDP can be computed
a. as the income received by households, in the form of wages, rent and profit.
b. as the income received by households in the form of wages
c. as the payments made by firms for labor.
d. as the profits received by households.
a
Economics
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How does an increase in the price level lead to a higher interest rate?
What will be an ideal response?
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In the period 2005–2012, the annual productivity growth rate was approximately _____
a. 1.6 percent per year b. 3 percent per year c. 4.2 percent per year d. 5 percent per year e. 6 percent per year
Economics