Which of the following statements about aggregate accounting is false?
A) It provides a way of measuring total, or aggregate, production.
B) It provides a way of measuring how much a nation is producing and consuming.
C) It did not exist before the 1930s because economists focused on microeconomics before the 1930s.
D) It is the best way to measure social welfare for an economy.
Correct Answer:
Verified
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Q14: Nominal GDP can never be equal to
Q15: T-accounts reflects double-entry bookkeeping that keeps income
Q16: Gross domestic product equals the sum of
Q18: When news reports state that inflation has
Q19: Inflation is a sustained rise in the
Q20: If measurement errors did not exist, real
Q21: Investment includes:
A)an increase in corporate stock volumes
Q22: If you decide not to spend $1,000
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