The equation GDP = C + I + G + NX best describes the
a. the output approach to measuring GDP
b. the factor payments approach to measuring GDP
c. the value added approach to measuring GDP
d. the expenditures approach to measuring GDP
e. the exchanges approach to measuring GDP
D
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An increase in the amount of a product offered for sale at every price is called an increase in supply
Indicate whether the statement is true or false
In the indifference curve-budget line model of labor supply,
a. labor is measured along the horizontal axis and leisure is measured along the vertical axis. b. labor is measured along the horizontal axis and consumption is measured along the vertical axis. c. consumption is measured along the horizontal axis and labor is measured along the vertical axis. d. consumption is measured along the horizontal axis and leisure is measured along the vertical axis.