The market value of domestic production is equal to the total expenditure on domestic agents:
A) plus the expenditure of foreign agents on exports minus gross investment by the foreign firms.
B) plus the expenditure of foreign agents on exports minus domestic expenditure on imports.
C) plus domestic expenditure on imports.
D) plus domestic expenditure on imports minus the expenditure of foreign agents on exports.
B
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England's American colonies were ultimately more successful than the colonies of other European powers. The reasons for this success include:
a. the realization that successful colonies would provide markets for English goods. b. a focus on establishing permanent settlements. c. the access to land which could be privately owned. d. all of the above.
In the case of perfectly elastic supply, the supply curve is:
A. upward sloping. B. downward sloping. C. vertical. D. horizontal.