The expenditure approach to measuring GDP is based on summing
A) wages, interest, rent, and profit.
B) each industry's production.
C) the total values of final goods, intermediate goods and services, used goods, and financial assets.
D) consumption expenditure, investment, government expenditure on goods and services, and net exports of goods and services.
E) consumption expenditure, investment, government expenditure on goods and services, and net exports of goods and services minus wages, interest, rent, and profit.
Question 2
Which of the following leads to the tragedy of the commons?
A) The use of common pool resources above the socially optimal level
B) The low level of satisfaction derived from the use of common pool resources
C) The high rate of taxation on common pool resources
D) The tendency of consumers to use common pool resources without paying for them
The same star field photographed with (a) a ground-based telescope, which is subject to poor seeing
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