In the expenditures approach of national income accounting, C, I g , and G include expenditures for:
A. Domestically produced goods and services only
B. Domestically produced as well as imported goods and services
C. Exported goods and services
D. The private sector of the economy only
B. Domestically produced as well as imported goods and services
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The M2 money supply is represented by
A) M2 = × MB. B) M2 = × . C) MB = × M2. D) MB = × .
Which of the following is true about long-run profits for monopolistically competitive firms?
a. Monopolistically competitive firms always experience positive economic profits in the long run. b. Monopolistically competitive firms always experience zero economic profits in the long run. c. Monopolistically competitive firms always experience negative accounting profits in the long run. d. Monopolistically competitive firms always experience positive accounting profits in the long run.