Multiple Choice
In the simple circular-flow diagram,with households and firms,GDP can be computed
A) as the total payments for factors of production made by households.
B) as the total expenditures by households on goods but not services,since services are intangible.
C) as the total expenditures by households on goods and services.
D) as the total expenditures by households on goods and services,less taxes paid.
Correct Answer:
Verified
Correct Answer:
Verified
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