Gross domestic product equals the sum of
a. all income earned by domestic producers of goods and services minus indirect business taxes and depreciation during the year.
b. the purchases of final goods and services produced domestically during a year.
c. the amount received by firms for consumer goods and services.
d. incomes received by households minus the sale of factor services supplied domestically.
B
Economics
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One reason unions might support an increase in the minimum wage is because such a policy would cause a leftward shift in the demand curve for union labor
Indicate whether the statement is true or false
Economics
Refer to Figure 9.2. At price 0H and quantity Q1, the deadweight loss is
A) DGC. B) BDC. C) BGC. D) 0FGQ1. E) none of the above
Economics