Government purchases, under the expenditure approach to GDP accounting, do not include:
a. state government purchases of plumbing services.
b. Social Security benefit payments to retirees

c. the salaries of military officers.
d. federal government purchases of computers.

b

Economics

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Households ________ factors of production and ________ goods and services

A) demand; supply B) demand; demand C) supply; supply D) supply; demand

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If a perfectly competitive firm shuts down in the short run, its total cost equals zero

a. True b. False

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