What are the two ways of looking at GDP?
A. Output approach and consumption approach
B. Income approach and saving approach
C. Expenditures approach and income approach
D. Output approach and expenditures approach
Answer: C
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When the Fed lowers the discount rate, it
a. lowers the cost of borrowing from the Fed, allowing banks to make more loans b. raises the cost of borrowing from the Fed, disallowing them from making the same quantity of loans c. increases the amount of excess reserves that banks hold, allowing them to make more loans d. increases the amount of excess reserves that banks hold, disallowing them from making the same quantity of loans e. decreases the amount of excess reserves that banks hold, disallowing them from making the same quantity of loans
Which of the following statements exemplifies a principle of individual decisionmaking?
a. Trade can make everyone better off. b. Governments can sometimes improve market outcomes. c. The cost of something is what you give up to get it. d. All of the above are correct.