Gross Domestic Product (GDP) is:a. the amount of all currency and also coins in circulationb. the value of all final goods and also services produced by a governmentc. the value of all last goods and services developed almost everywhere in the world by a nation"s firmsd. the worth of all final goods and also solutions produced domestically


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The demand also meacertain of GDP accountancy adds together:a. wperiods and also salaries, rent, interest, and profitb. intake, investment, government purchases, and also profession balancec. consumption, government purchases, weras and also salaries, and trade balanced. consumption, interest, government purchases, and profession balance
Gross Domestic Product equals $1.2 trillion. If intake equals $690 billion, investment equates to $200 billion, and government spending equates to $260 billion, then:a. exports exceed imports by $50 billionb. imports exceed exports by $50 billionc. imports exceed exports by $150 billiond. exports exceed imports by $150 billion
In order to avoid double counting, statisticians simply count the ___________.a. final items and servicesb. last inventoriesc. intermediate goods and servicesd. durable products and also non-resilient goods
_____________ is around two-thirds of the demand also side of GDP, however it moves relatively little bit over time.a. governmentb. investmentc. servicesd. consumption
What was the approximate US GDP in 2016, in present dollars?a. $185 billionb. $1.85 trillionc. $18.5 trilliond. $185 trillion
Investment (I) includesa. the amount spent on brand-new factories and machineryb. the amount invested on stocks and bondsc. the amount invested on customer goods that last more than one yeard. the amount invested on purchases of art
A service cycle mirrors changes in economic activity, particularly real GDP. The sequential stages of a company cycle are:a. tunstable, development, recession, peakb. contraction, recession, growth, boomc. development, tturbulent, recession, peakd. expansion, top, recession, trough
Which of the following is true?a. the timing of service fluctuations is consistent and also therefore easily predictableb. a depression is a recession that is mild and relatively briefc. the expansions and also contractions of genuine civilization company cycles last varying lengths of time and regularly differ in magnituded. during the contractionary phase of the service cycle, the price of unemployment is generally fairly low
c. the expansions and contractions of actual people organization cycles last differing lengths of time and regularly differ in magnitude
The nominal value of any economic statistic describes the number that is actually announced at that time, while the ___________ describes the statistic after it has been readjusted for inflationa. empirical valueb. adjusted valuec. actual valued. net value
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