1. the aggregate supply curve shows the negative relationship between general price and real GDP. True or false 2. Other things equal, as the number of discouraged workers rises in an economy, the gap between potential and actual real GDP will widen. True or False 3. According to the expedenitures approach, gross domestic product represents the sum of consumption spending, government spending, net exports, and net investments. True or False 4. In a business cycle, a peak marks the end of an expansion and the beginning of a recession. True or False 5. GDP is based on the market value of goods and services produced in an economy and not on the value of only final goods and services. True or Fasle

1. the aggregate supply curve shows the negative relationship between general price and real GDP. True or false 2. Other things equal, as the number of discouraged workers rises in an economy, the gap between potential and actual real GDP will widen. True or False 3. According to the expedenitures approach, gross domestic product represents the sum of consumption spending, government spending, net exports, and net investments. True or False 4. In a business cycle, a peak marks the end of an expansion and the beginning of a recession. True or False 5. GDP is based on the market value of goods and services produced in an economy and not on the value of only final goods and services. True or Fasle

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Provide solution only part c
Which components of Aggregate Expenditure change as a result of a change in real GDP? Question 3Answer a. consumption, investment, and exports b. consumption and investment c. consumption, investment, and government expenditures d. consumption and governments e. consumption and imports
Which of these is not true about aggregate demand? a. It includes consumption, investments, government spending, and imports b. It is the amount of total spending on domestic goods and services in an economy. c. It is what economists call total planned expenditure d. It is similar to gross domestic product
provide A and B both answer with explanation
Which of the following statements is TRUE? Select one: a. Potential GDP is the same as real GDP. b. Real GDP fluctuates around potential GDP. c. When all of the economy's resources are fully employed, the value of production is called real GDP. d. Potential GDP fluctuates around real GDP.
Aggregate income in an economy in 2017 is $ 995 billion. Saving is $ 25 billion and imports are $ 30 billion. What is aggregate expenditure in the economy in 2017? Aggregate expenditure in the economy in 2017 is ______. A. $ 995 billion B. $ 1020 billion C. $ 1050 billion D. $ 970 billion.
Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
H6. Fill in the blank: An economy is in a recession if ____________ falls over two quarters (six months). Select one: a. nominal GDP b. real GDP c. gross national happiness d. the unemployment rate
The aggregate expenditure function in a simple macroeconomic model with a close economy and no government is the sum of a. Wished for consumption and wished for investment b. Saving as well as the intended investment c. Expenditure and disposable income d.
Question 40 In the economy of Ukzten in 2010, consumption was $1000, exports were $100, government purchases were $450, imports were $150, and investment was $350. What was Ukzten's GDP in 2010? A. $1750 B. $1900 C. $1850 OD. $2050 0.
On the demand side of GDP, consumption by _____________ is the largest component of GDP, accounting for about two-thirds of the GDP in any year. options a) businesses b) households c) services d) government
A. Net export spending will have a negative value when the country exports more goods than it imports from other countries. Group of answer choices True False B. Which of the following components of GDP includes your tuition payments? Group of answer choices consumption of nondurable goods investment consumption of durable goods consumption of services C. In the economy, income earned when producing new final goods and services must equal expenditure on the new final goods and services. Group of answer choices True False