If there are no statistical discrepancies, NDP (net domestic product) is:
A. NI minus net foreign factor income.
B. NI plus corporate income taxes.
C. GDP deflated for increases in the price level.
D. GDP minus taxes on production and imports.
A. NI minus net foreign factor income.
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On November 7, 1996, the Distilled Spirits Council of the United States decided to end its voluntary ban on television and radio liquor advertisement. The ban on hard liquor advertising had been in effect since 1936 for radio and 1948 for television
Did the lifting of this ban likely increase or decrease the profits of hard liquor companies? Briefly explain.
The marginal propensity to save is
a. the change in saving divided by the change in income. b. the change in income divided by the change in saving. c. saving divided by income. d. income divided by saving. e. saving divided by consumption.