Category: Economics

In order to avoid double counting, statisticians just count what?
Question 36
Answer
a. final inventories
b. durable goods and nondurable goods
c. final goods and services
d. intermediate goods and services

Appropriating the budget and impeaching the executive are examples of
duties of the Senate.
duties of the House.
judicial checks on the executive.
congressional checks on the executive.

According to the text, income in the U.S. isdistributed less equally today than in the 1940s.taxed more heavily for lower incomes.distributed fairly equally.taxed more heavily for middle incomes.
isdistributed less equally today than in the 1940s.
taxed more heavily for lower incomes.
distributed fairly equally.
taxed more heavily for middle incomes.

Child labor is primarily a result of:trade restrictions such as tariffs and quotas.increased demand for foreign goods.poverty in the child’s circumstances.absence of schools in developing nations.

Assume that the following are the only data needed to calculate gross domestic product. Calculate GDP and its components as well as total income. Use your best judgment with the information given.

By the year 2017, health care spending on Medicare, Medicaid, and other U.S. government programs as a percentage of GDP had reached a level of2.2 percent.7 percent.17.5 percent.21.5 percent.
2.2 percent.
7 percent.
17.5 percent.
21.5 percent.