Table 5.1National Income Accounts (dollar figures are in billions)Expenditures for consumer goods and services$4,565Exports$740Government purchases of goods and services$1,465Social Security taxes$510Net investment$225Indirect business taxes$520Imports$825Gross investment$865Corporate income taxes$185Personal income taxes$750Corporate retained earnings$45Net foreign factor income$20Government transfer payments to households$690Net interest payments to households$0On the basis of Table 5.1, gross domestic product is 

According to the text, which of the following developments have taken place in the American steel industry during the past 40 years?

a. The percentage of steel produced in vertically integrated steel plants has increased. b. The percentage of steel produced in vertically integrated steel plants has decreased. c. More steel makers have integrated vertically into coal mining. d. More steel makers have integrated vertically into iron ore mining.

Economists use the term capital to describe that factor of production that includes human-made resources such as factories, buildings, machinery and tools

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