Using the income approach, indirect business taxes have to be added to get gross domestic product because the:
a. selling price of a product includes these taxes, which are income to the governmentrepresenting the public interest of households
b. selling price of a product includes these taxes, which are resource payments.
c. selling price of a product excludes these taxes and therefore they have to be added.
d. selling price includes these taxes which are actually not income to any sector of the economy.
a
Economics
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An increase in the demand for medical services caused by an increase in the number of people over 65 is most likely attributable to which demand shifter?
A) income B) consumer preferences C) prices of other goods D) demographic characteristics
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The loss of efficiency that occurs in monopolistic competition has to be weighed against the gain of
A) higher wages for employees. B) an increase in employment. C) greater product variety. D) reduced environmental damage.
Economics