(The following national income data for an economy are in billions of dollars.)
Refer to the above data. The expenditures approach to GDP calculation can be done by adding:
A.
1 through 7
B.
2 through 7
C.
8 through 11
D.
8 through 13
C.
8 through 11
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Bobby faces two choices. The first is to receive $600 on the spot. The other choice is to receive $800 a year from now. The interest rate is 5% per year. What could a possible explanation for Bobby choosing to receive $600 on the spot?
A) Bobby finds that the present value of the $800 a year from now is less than $600. B) Bobby may have time-inconsistent preferences. C) Although Bobby chooses $600 on the spot, he is actually indifferent between the two options. D) None of the above is correct.
As a large number of students graduate from college, which category of unemployment would increase?
a. Seasonal unemployment b. Structural unemployment c. Frictional unemployment d. Cyclical unemployment e. They will have no effect on unemployment