Which of the following is the correct formula for computing GDP?
a. GDP = consumption + private investment + government spending + exports - imports
b. GDP = consumption + public investment + government spending + exports - imports
c. GDP = consumption + private investment + government spending - exports - imports
d. GDP = consumption + private investment + government spending + transfers
e. GDP = consumption + private investment + tax revenue + transfers
A
You might also like to view...
Refer to the supply and demand graph below. S1 and D1 represent the current market supply and demand, respectively. S2 and D2 represent the socially optimal supply and demand. One way that the government could shift demand to its socially optimal level
is to:
A. Tax the sellers
B. Tax the buyers
C. Subsidize the sellers
D. Subsidize the buyers
Suppose demand is given by Qxd = 50 ? 4Px + 6Py + Ax, where Px = $4, Py = $2, and Ax = $50. What is the quantity demanded of good x?
A. 46 B. 96 C. 72 D. 50