In 1929, government purchases accounted for
A) only 18.5 percent of U.S. GNP.
B) only 8.5 percent of U.S. GNP.
C) 28.5 percent of U.S. GNP.
D) 38.5 percent of U.S. GNP.
E) 48.5 percent of U.S. GNP.
B
Economics
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"Market clearing" refers to the case where
A) the purchase and sale plans of buyers and sellers are fully coordinated. B) quantity demanded equals quantity supplied. C) there is neither a shortage nor surplus of a good. D) all of the above.
Economics
Which of the following is classified as a sunk cost?
a. Cost of the next best alternative b. Additional cost of producing an additional unit c. Research costs to determine the implementation of a technology d. Total cost of producing a product
Economics