Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hello I need help with the following questions: Question 1: . In the expenditure approach to GDP, which of the following would be excluded m

Hello I need help with the following questions:

Question 1:

image text in transcribedimage text in transcribedimage text in transcribed
. In the expenditure approach to GDP, which of the following would be excluded m measurements of GDP? ) a. government payments for the services provided by state employees ) b. government payments for goods produced by foreign rms ) c. government payments for welfare > d. all government payments are included in GDP 1. In a complete model of an economy, the income-expenditure identity says that a. Y = C+S +T b. Y = C+I +G+X -M c. Y = C +S+T d. Y = C +S+G+X -MWith a proportional tax rate of 20% and MPC = .80, the spending multiplier is )a.1.56 )b.5 )c.4 ) d. 2.78

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Public Personnel Administration And Labor Relations

Authors: Norma M Riccucci

1st Edition

1317461754, 9781317461753

More Books

Students also viewed these Economics questions