Government expenditures on goods and services
Explain Government expenditures on goods and services and transfer payments?
Expert
1. Government purchases directly use or employ resources to produce goods or services measured in domestic output.
2. Government transfer payments are not directly part of domestic output, but include payments like social security, unemployment compensation, welfare payments.
Changes in government purchases of goods and services, expenditures on transfer payments, and total spending as percentages of U.S. output, 1960 and 2000.
Which of the following are examples of public goods?
What are the Examples and Applications of International Trade?
How do households dispose of their income?
Question: 1. Long-term Growth, International Trade & Globalization a. In terms of understanding the importance of trade to an economy, the most impor
Productive (technical) efficiency needs maximization of the: (i) opportunity cost of a specified value of output. (ii) resources used to produce a specified value of output. (iii) value of output produced for a given total cost. (iv) satisfaction atta
Explain of the law of demand?
Is transfer income involved in national income? Explain Why? Answer: No, since transfer income does not effect in the production of services and goods.
Give a brief introduction of the term Control Principle?
Economic Territory: This refers to the region of a country where there is a free movement of goods, capital and human resources.
Economic scarcity is pervasive, that makes choices essential. Therefore, rationally optimal decisions hinge upon tradeoffs which essentially reflect: (i) cooperation to minimize human greed. (ii) opportunity costs. (iii) competitive social behavior. (
18,76,764
1953326 Asked
3,689
Active Tutors
1433645
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!