When estimating GDP using the income approach, aggregate income is adjusted by
A. subtracting depreciation.
B. subtracting indirect business taxes.
C. adding indirect business taxes.
D. adding net income earned abroad.
Answer: C
Economics
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In response to accounting scandals in 2002, the federal government passed legislation requiring among other things that auditors disclose any potential conflicts of interest. What is the name of this legislation?
A) the Kennedy-Lott Act B) the Accountant Reliability Act C) the Sarbanes-Oxley Act D) the 24th amendment to the Constitution
Economics
Refer to Figure 26-3. In the figure above, when the money supply shifts from MS1 to MS2, at the interest rate of 3 percent households and firms will
A) sell Treasury bills. B) neither buy nor sell Treasury bills. C) want to hold more money. D) buy Treasury bills.
Economics