In 2016 final sales equal $400 billion, and the change in business inventories is $100 billion. GDP in 2016 is
A. $100 billion.
B. $300 billion.
C. $400 billion.
D. $500 billion.
Answer: D
Economics
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Pay-as-you-go social security
A) can never improve economic welfare for everyone. B) can improve welfare for everyone if the population growth rate is large enough. C) is always inefficient. D) is not used by any countries in the world.
Economics
Refer to the above table. If the price of the product is $1.50, and the marginal factor cost of an additional unit of an input is $105, how many units of labor should be hired?
A) 11 B) 12 C) 13 D) 14
Economics