Answer:
cash income paid to a day laborer that is not reported to the tax authorities
Explanation:
GDP stands for Gross domestic product. It is the monetary value of all finished goods and services made within a country during a specific period.
It is calculated as GDP = private consumption + gross investment + government investment + government spending + (exports – imports).
Hence, cash income paid to a day laborer that is not reported to the tax authorities will not be included in GDP
The business cycle is the movement of an economy from one condition to another and back again. The business cycle is also known as the economic cycle or trade cycle. This cycle represents the movement of resources from one end and their comeback at the same end after revolving. It can be understood as a businessman invests money in the business in the form of costs and the money comes back in the form of revenue or sales.
Hence the answer is the <u>Economic cycle</u>
People with large heads tend to have high iqs.
Answer:
Option (b) is correct.
Explanation:
The total surplus is defined as the sum total of producer surplus and consumers surplus. Total surplus with a tax is defined as the combined total of producers and consumers surplus and tax revenue that is earned by the government of a particular nation.
Consumers surplus = Willingness to pay for the product - Actual amount paid for the product
Producers surplus = Actual amount received for the product - Willingness to accept for the product
The U.S. aggregate demand curve slopes downward due to all of the following reasons except the "government-spending effect, where a change in the price level affects government purchases".
<u>Option: B</u>
<u>Explanation:</u>
The total consumption, production is reflected in the aggregate demand curve, government purchases and net exports in any time period at each price level. It slopes down due to the impact of wealth on consumption, the effect of interest rates on investment and the effect of global trade on net exports.
AD describes the relationship between the total amount of required production (calculated as real GDP) and the level of the market (as the implied price deflator). The aggregate amount of goods and services offered at each price point is the number of the components of real GDP. There is a negative relationship between the amount of prices and the total quantity of goods and services provided, unchanged for everything else.
