Which of the following best defines wealth?
a. The sum of the value of all assets
b. The flow of money received
c. The number of financial investments
d. The amount of debt at any time
a. The sum of the value of all assets
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Which of the following is not one of the leading indicators?
A) index of consumer expectations, U. of Michigan B) change in consumer price index for services C) vendor performance, slower deliveries diffusion index D) manufacturers' new orders, nondefense capital goods
All developed countries achieve their status as a result of large supplies of natural resources
a. True b. False
A higher domestic price level lowers aggregate expenditures and, therefore, shifts the aggregate demand curve to the left
a. True b. False Indicate whether the statement is true or false
The approach to calculating GDP that measures the contribution of each firm to GDP is referred to as the
a. expenditures approach to measuring GDP b. factor payments approach to measuring GDP c. value added approach to measuring GDP d. productivity approach to measuring GDP e. output approach to measuring GDP