The term "depreciation" in the national income accounts refers to
a. the adjustment of GDP for inflation.
b. plant and equipment "used up" in producing current output.
c. citizenship differences among income recipients.
d. government transfer payments minus tax revenues.
b
Economics
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If a monopolist lowers its price
A) it lowers the barriers to entry. B) the quantity demanded increases. C) the quantity demanded remains the same. D) the quantity demanded decreases.
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Microeconomics deals with the analysis of all of the following issues except
a. wage determination of carpenters b. unemployment during the Great Depression c. how Ford prices its cars d. the decision a college student makes concerning his or her consumption e. how monopoly and competitive markets differ
Economics