21. Which one of the following items are not considered resource costs even thou

Question

21. Which one of the following items are not considered resource costs even though they are counted as income paid to persons? a. profits b. wages c. business transfer payments d. government transfer payments e. both c) and d) are correct. 22. If nominal GDP is increasing at the same rate as real GDP, then it is definitely true that there is inflation. a. true b. false 23. Which of the following pairs do not match? a. business transfer payment pension b. government purchase of goods and services - military expenditure c. government purchase of good and services-social security d. government transfer payment social security e. both a) and o) are correct.

Explanation / Answer

21.

Correct answer:

e. both c & d are correct

business transfer payment gives scholarships to individuals and government transfer payment redistribute income to people under social security.

22.

Correct Answer:

False

GDP depends not only upon price but also on output. Any negative change in one variable can be offset by the positive change in other variable.

23.

Correct Answer:

e. both a & c are correct.

Pension is not the part of business transfer payment. Government purchase of good and service is for the consumption and not always meant for social securities.

Related Questions

Navigate

• Browse (All)
• Browse 2
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.