Which approach to calculating GDP best highlights the relative importance of different factors of production?
A. The expenditure approach
B. The income approach
C. The value-added approach
D. Any of these measurements would work equally well for that comparison.
B. The income approach
Economics
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In a perfectly competitive market, individual consumers have _____.
(A) Less influence than producers concerning prices. (B) No influence over determining price. (C) More influence than producers concerning prices. (D) More influence than consumers in other market structures.
Economics
The function of an entrepreneur is to: a. bear business risks
b. organize the other factors of production. c. innovate. d. do all of the above.
Economics