The Carters' oldest son attends Big State University. He and his parents pay all his fees and tuition. These payments count in GDP as
a. investment.
b. government spending.
c. consumption of services.
d. consumption of durable goods.
c
You might also like to view...
If the MPC equals 0.75, then
A) for every $100 increase in consumption, real Gross Domestic Product (GDP) increases by $75. B) for every $100 increase in real Gross Domestic Product (GDP), saving increases by $25. C) consumption is always more than real Gross Domestic Product (GDP). D) for every $100 increase in real Gross Domestic Product (GDP), saving increases by $75.
Alpha can produce either 18 tons of oranges or 9 tons of apples in a year, while Omega can produce either 16 tons of oranges or 4 tons of apples. The opportunity costs of producing 1 ton of oranges for Alpha and Omega, respectively, are: a. 0.25 tons of apples; 0.5 tons of apples. b. 9 tons of apples; 4 tons of apples
c. 2 tons of apples; 4 tons of apples. d. 0.5 tons of apples; 0.25 tons of apples.