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Which of the following statements about GDP is correct? A. Money continuously flows from households to government and then back to households, and GDP measures this flow of money. B. GDP increases if the total population increases. C. GDP is to a nation’s economy as household income is to a household. D. GDP measures two things at once: the total income of everyone in the economy and the unemployment rate.
Weegy: A. Money continuously flows from households to government and then back to households, and GDP measures this flow of money. User: Lucy starts her own psychiatric practice, but her expenditures to open the practice exceed her income. Lucy is a __________. A. saver who supplies money to the financial system B. borrower who supplies money to the financial system C. borrower who demands money from the financial system D. saver who demands money from the financial system Weegy: D. borrower who demands money from the financial system User: A production possibilities frontier will be a straight line if __________. A. increasing the production of one good by x units entails a constant opportunity cost in terms of the other good B. the economy is engaged in trade with at least one other economy C. the economy is producing efficiently D. increasing the production of one good by x units entails no opportunity cost in terms of the other good Weegy: C. increasing the production of one good by x units entails a constant opportunity cost in terms of the other good User: What you give up to obtain an item is called your __________. A. explicit cost B. direct cost C. true cost D. opportunity cost Weegy: What you give up to obtain an item is called your: D. OPPORTUNITY COST. (More)
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