Conceptually, a country's GDP equals the:
A. difference between the value of its final output and the value of the intermediate goods used to produce that output.
B. sum of the value added at all stages of production.
C. sum of the value of its final output and the value of the intermediate goods used to produce that output.
D. sum of the value of all the intermediate goods used to produce final output.
Answer: B
Economics
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The key difference between oligopoly and other market structures is the interdependence among producers.
Answer the following statement true (T) or false (F)
Economics
If an economy is $100 billion below potential, the tax rate is 20 percent, and the deficit is $180 billion, the structural deficit is:
A. $200 billion. B. $20 billion. C. $180 billion. D. $160 billion.
Economics