Answer:
__ Consumer spending increased.
__ Retail sales increased.
Explanation:
GDP is the sum of all production of goods and services in an economy over a given period of time. In calculating GDP, consumption, investment, government spending and the net balance of foreign trade (exports minus imports) are considered. <u>Increased retail sales mean increased consumer spending. This is an increase in aggregate consumption, which is one of the variables of GDP, so increased sales and consumer spending raises GDP. </u>Conversely, if sales and industrial production decline, GDP declines.
Answer:
What do pollution, education, and your neighbor's dog have in common?
No, that's not a trick question. All three are actually examples of economic transactions that include externalities.
When markets are functioning well, all the costs and benefits of a transaction for a good or service are absorbed by the buyer and seller. For example, when you buy a doughnut at the store, it's reasonable to assume all the costs and benefits of the transaction are contained between the seller and you, the buyer. However, sometimes, costs or benefits may spill over to a third party not directly involved in the transaction. These spillover costs and benefits are called externalities. A negative externality occurs when a cost spills over. A positive externality occurs when a benefit spills over. So, externalities occur when some of the costs or benefits of a transaction fall on someone other than the producer or the consumer.
Explanation:
In the United States, there are several ethnic groups that coexist and tend to group in certain areas of the country. Hispanics tend to live in large cities, mostly in the southwest, while african americans are clustered in the southeast of the country. Asian americans are mostly present in every big city in the USA, but they tend to concentrate in the west part of the country. Finally, Native americans are largely clustered in the southwest and most of the plain states of the country.
The flying shuttle and the spinning jenny or the cotton gin
