To calculate GDP using the income approach, one of the adjustments made to net domestic product at factor cost is to
A) add investment.
B) subtract indirect taxes less subsidies.
C) add consumption expenditure.
D) subtract investment.
E) add depreciation.
E
Economics
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________ is an experiment that tests the significance of fairness in consumer decision making
A) The ultimatum game B) The fairness challenge C) The consumer choice paradigm D) The Giffen paradox
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Which of the following statements is true about voting results if preferences are intransitive?
a. The result of voting never reflects majority preferences. b. It is impossible to predict the outcome when preferences are intransitive. c. The person who sets the agenda (sequence of votes) may be able to control the outcome. d. Only a Borda Count yields a unique result when preferences are intransitive.
Economics