The national income accounting system provides a measure of:
a. only the total amount of profits made by business firms.
b. the total value of all inputs used in production.
c. the government budget surplus and deficit.
d. the net exports of a nation.
e. the output of an entire economy.
e
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The price of a new textbook increases from $120 to $160, while the price of used copies of the textbook increased from $80 to $100. Other things being equal, we would expect
A) the quantity demanded of the used textbook to increase and the quantity demanded of the new textbook to decrease. B) the quantity demanded of both to fall. C) the demand for the new textbook to increase and the demand for the used textbook to decrease. D) the quantity demanded of the used textbook to decrease and the quantity demanded of the new textbook to increase.
Which of the following is most likely to be able to sustain economic growth in an economy?
A) sustained increases in the labor force participation rate B) technological change C) increases in capital per hour worked D) accumulations of economic resources