Subtraction of ________ from Gross National Product yields Gross Domestic Product
A) net factor income
B) depreciation
C) factor income to the rest of the world
D) net government income
E) none of the above
A
Economics
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If there is a change in the U.S. endowment of factors of production, then there would be
A) shifts in just SRAS. B) a movement along the SRAS curve. C) a shift in both LRAS and SRAS. D) a shift in just LRAS.
Economics
Comment on the following statement: "Diminishing returns occur when total output falls as additional units of labor are combined with fixed inputs in the production process."
What will be an ideal response?
Economics