Author Question: As presented in the textbook, gross domestic product is the sum of annual A) business profits ... (Read 38 times)

Hungry! · **on:** Jun 29, 2018

As presented in the textbook, gross domestic product is the sum of annual

A) business profits (both incorporated and unincorporated) plus all tax receipts of federal, state, and local governments.
B) consumption, saving, and investment.
C) expenditures for new final goods by consumers, investors, government.
D) total sales of all business firms.
E) wages and salaries paid or received.

Question 2

What is the great advantage of adjudication over legislation in the management of negative externalities?

A) Adjudication has lower costs.
B) Adjudication maintains the continuity of expectations.
C) Courts are bound by the rule of law and legislatures are not.
D) Courts can act more quickly than legislatures.
E) There are no clear answers in such cases.