Intermediate goods and services are one of the largest components ...

[jlmhmf]

Intermediate goods and services are one of the largest components of the expenditure approach to measuring GDP.
 
  Indicate whether the statement is true or false

Question 2

If resources are used efficiently, then ________.
 
  A) marginal social cost is minimized
  B) consumer surplus plus producer surplus is maximized
  C) consumer surplus equals producer surplus
  D) producer surplus is maximized

[taylorsonier]

Answer to Question 1

FALSE

Answer to Question 2

B

[jlmhmf]

Thanks for the timely response, appreciate it

[nothere]

Great answer, keep it coming