Not only hazard but child labor rise steeply. Between 1870
and 1900 the number of children – typically under 16 and paid a portion of what
adults made – grow from 700,000 to over 1.7 million. But why industrial
workplaces were so unsafe because there were insufficient laws that required welfare
be measured in the workplace, so most bosses decided that it was needless to
implement preemptive measures.
In the economy of Wrexington in 2008, consumption was $1000, exports were $100, government purchases were $450, imports were $150, and investment was $350, then
⇒$1750, was Wrexington's GDP in 2008
(add all, subtract 150 which is the imports)
GDP = personal consumption + gross investment + government consumption + net exports of goods and services
Personal Consumption
Gross Investment
Government Consumption
Exports
Imports
GNP = employee compensation + proprietors' income + rental income + corporate profits + interest income
GDP = GNP + indirect business taxes + depreciation + net income of foreigners*
Hence, option A is correct.
To learn more about GDP here
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Answer:
45 degree line
Explanation:
In the equilibrium in income and expenditure model, expenditure equals national income when the expenditure crosses the 45 degree line. This means that in income and expenditure being at equilibrium, it means that there is no shift, change, deviation from the outcome.
Expenditure below and above 45 degree is not in equilibrium as that means that government income is either less than or greater than the expenditure respectively.
Cheers
Fiscal policy is therefore the use of government spending, taxation and transfer payments to influence aggregate demand. These are the three tools inside the fiscal policy toolkit.
