The GDP of a country can be derived by summing
a. the expenditures on final user goods and services produced domestically during the year.
b. the payments to employees and owners of capital resources and then subtracting depreciation and indirect business taxes.
c. the market value of all goods and services produced domestically during the period and then subtracting net exports from that figure.
d. the income payments to the resource suppliers and net exports.
A
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Aggregate supply is the same thing as:
a. total national spending. b. total domestic production. c. aggregate demand. d. a supply shock.
The company that manufactures Screaming Chocolate Zonkers breakfast cereal finds that its sales collapse, it is forced into bankruptcy, and it defaults on its bonds, as a result of information on the filthy conditions in its factory, which had long
been known to management, leaking out to the general public. This incident is best thought of as an example of A) symmetric information in the financial markets. B) asymmetric information in the financial markets. C) moral hazard in the financial markets. D) the generally poor state of sanitation in the food-processing industry in the United States.