Who Created the Original National Income and Product Accounts in the 1930s

question 10

Multiple Choice

Who created the original National Income and Product Accounts in the 1930s?

• A)John M.Keynes
• B)Paul A.Samuelson
• C)William D.Nordhaus
• D)Simon Kuznets
• E)Milton Friedman

---

Definitions:

Technology Spillovers

Benefits that firms or countries obtain by imitating or learning from the innovations of others, often without incurring the cost of innovation.

Subsidies

Financial assistance grants or tax breaks provided by the government to support businesses, organizations, or individuals, encouraging production or consumption of certain goods and services.

Computer Chips

Small pieces of semiconductor material (usually silicon) with an integrated circuit (IC) used in electronic devices to perform computing tasks and other functions.

Negative Externality

A situation where a third party suffers costs from an economic transaction in which they are not directly involved.