What are the categories of total expenditure?
What will be an ideal response?
There are four categories: Consumption expenditure, spending by households; investment, spending by firms to buy new capital equipment or add to inventories; government expenditures on goods and services, spending by all levels of the government to buy goods and services; and net exports of goods and services, which equals the exports of goods and services minus the imports of goods and services.
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Government regulation of the prices and entry conditions in an industry is an example of
a. safety regulation b. economic regulation c. Herfindahl regulation d. antitrust regulation e. Social Security legislation
Economics is the study of decisions made necessary by the problem of unlimited wants and limited means to satisfy them
a. True b. False Indicate whether the statement is true or false