NIPA data
A. are revised many times.
B. are revised twice.
C. are never revised.
D. are revised once.
Answer: A
Economics
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Personal consumption expenditures:
a. represent close to two-thirds of GDP. b. are equal to personal income minus individual taxes. c. include durable good purchases but not nondurable good purchases. d. do not include any intangible consumption items. e. include all goods and services bought by the government.
Economics
When firms in a competitive market have different costs, it is likely that
a. free entry and exit in the market will be violated. b. the market will no longer be considered competitive. c. long-run market supply will be downward sloping. d. some firms will earn positive economic profits in the long run.
Economics