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Author Question: Using the income approach, indirect business taxes have to be added to get gross domestic product ... (Read 106 times)

cookcarl

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on: Jun 30, 2018
Using the income approach, indirect business taxes have to be added to get gross domestic product because the:
 a. selling price of a product includes these taxes, which are income to the governmentrepresent ing the public interest of households.
 b. selling price of a product includes these taxes, which are resource payments.
  c. selling price of a product excludes these taxes and therefore they have to be added.
  d. selling price includes these taxes which are actually not income to any sector of the economy.

Question 2

The aggregate demand curve:
 a. shows the level of real GDP purchased in the economy at different possible price levels during a period of time.
  b. shows the level of real GDP produced in the economy at different possible price levels during a period of time.
  c. shifts to the left whenever there is an increase in aggregate expenditures.
  d. slopes upward.


mochi09

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Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

a


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