GDP (gross domestic product) measures the _____.
A) total output produced by an economy in a given year
B) total output, including net exports, produced in an economy in a given year
C) total payment made to factors of production in a given year
D) the amount of taxes collected by the government in a given year
Correct Answer:
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Q10: In the early 2000s the UK economy
Q11: In the circular flow model, the factors
Q12: In the early 2010s the UK economy
Q13: Leakages from the circular ?ow constitute:
A) savings,
Q14: What is meant by a trade de?cit?
A)
Q16: Which of the following represents a leakage
Q17: The level of unemployment in an economy
Q18: Which of the following correctly de?nes in?ation?
A)
Q19: Government deficit can be defined as the
Q20: Injections into the circular ?ow of income
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