Is the cost of an all-volunteer army in the United States higher or lower than the cost of a conscripted (drafted) army?

A) Higher, unless the citizens are exceptionally patriotic
B) Lower, unless the army is inefficiently managed
C) Higher to taxpayers but lower to military personnel
D) The same because the wage will move to the market-clearing level
E) We cannot say without knowing the supply of and demand for military personnel.

C

Economics

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In the model of aggregate demand and aggregate supply, the GDP deflator measures the

a) price of oil. b) average price level. c) nominal interest rate. d) amount of real output.

Economics

What is the expenditure approach to measuring GDP?

What will be an ideal response?

Economics