Are all categories of government expenditures included in gross domestic product? What government activities are not included in GDP?
What will be an ideal response?
No, all categories of government spending do not represent a demand for currently produced goods and services. For instance, government spending on transfer payment programs like social security and Medicare are not included.
Economics
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Refer to Table 11.1. At the equilibrium level of output, y*, what is the trade balance?
A) -1,345.00 B) -985.00 C) -276.25 D) -186.25
Economics
In the figure, when the real wage rate is $10 an hour, ________
A) a shortage of labor exists and the real wage rate will rise B) the demand for labor will increase C) the demand for labor will decrease D) a surplus of labor exists and the real wage rate will fall
Economics