What is the difference between goods and services?
What will be an ideal response?
Goods are tangible merchandise such as cell phones or automobiles. Services are activities done for others, such as providing medical care or legal advice.
You might also like to view...
The German government carries out an official foreign exchange intervention in which it uses dollars held in an American bank to buy French currency from its citizens. How is this accounted for in the balance of payments?
A) current account, French good export B) current account, German good import C) financial account, French asset export D) financial account, German asset export E) financial account, German asset import
Where do constraints come from?
What will be an ideal response?
Increases real GDP
What will be an ideal response?
Under the aggregate expenditure model, which of the following is always equal to output?
a. aggregate demand b. aggregate expenditure c. income d. investment