In the circular flow of economic activity,
A) aggregate income measures the dollar value of labour resources only.
B) aggregate expenditure measures the dollar value of purchases of factors.
C) aggregate expenditure is measured as it moves through the financial markets.
D) aggregate expenditure measures the dollar value of purchases of final goods and services.
Correct Answer:
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Q7: Gross domestic product (GDP) measures the
A) number
Q12: The business cycle is the
A)irregular fluctuations of
Q13: Suppose XYZ Ltd. buys a new copier
Q14: A trough is the
A)upper turning point of
Q15: Real GDP is not a perfect indicator
Q16: Gross domestic product
A)measures the value of labour
Q18: Government expenditures included in the expenditure approach
Q19: _ gross domestic product is the value
Q21: Let C represent consumption expenditure, S saving,
Q22: Two methods of measuring GDP are
A)the income
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