Under the expenditure approach to GDP accounting, government purchases of goods and services include welfare payments

a. True
b. False
Indicate whether the statement is true or false

False

Economics

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George always purchases the soda with the lowest price. For George, the cross price elasticity of demand for two brands of soda will be

A) equal to 0. B) negative. C) positive. D) impossible to determine without more information.

Economics

International free trade:

A. allows everyone involved to gain surplus. B. may have individual winners and losers of surplus within a country. C. creates surplus only for the producers in a country. D. creates surplus only for the consumers in a country.

Economics