GDP can be calculated by summing ________.
A. consumption, investment, government purchases, and net exports
B. consumption, investment, government purchases, exports, and imports
C. consumption, investment, wages, and rents
D. consumption, investment, government purchases, and imports
Answer: A
You might also like to view...
Suppose an economy consists of 500,000 individuals 16 years and older, 260,000 are employed, and 21,000 are unemployed but actively seeking work. In this example the labor force participation rate is approximately
A) 4 percent. B) 48 percent. C) 52 percent. D) 56 percent.
The unemployment rate ________
A) is essentially unchanged over the business cycle B) rises in economic expansions and falls in economic contractions C) falls consistently over both economic expansions and recessions D) varies over the course of the business cycle
Compared to most other industrialized countries shown in the text, the national debt as a percentage of GDP in the United States is:
a. substantially larger. b. the same. c. slightly larger. d. substantially smaller.
In the year _______ the stock market crashed, while the economy went into a major economic decline which lasted until the year ________.
Fill in the blank(s) with the appropriate word(s).