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Gross Domestic Product is defined as: a. intermediate goods plus final goods. c. National income plus depreciation. b. NNP minus depreciation. d. Dollar amount of all
final goods and services produced within a country’s national border in a year.
Gross Domestic Product is defined as: d. Dollar amount of all final goods and services produced within a country s national border in a year.
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User: Gross Domestic Product is defined as: a. intermediate goods plus final goods. c. National income plus depreciation. b. NNP minus depreciation. d. Dollar amount of all final goods and services produced within a country’s national border in a year.

Weegy: Gross Domestic Product is defined as: d. Dollar amount of all final goods and services produced within a country s national border in a year.
jushusp|Points 70|

User: Gross Domestic Product is an index that measures price changes by domestic producers.

User: C + G + I +F is the formula to determine GDP. What does the G in the formula represent? a. government spending c. grants b. goods d. gambling

Weegy: C + G + I +F is the formula to determine GDP. What does the G in the formula represent? a. government spending
Expert answered|selymi|Points 11201|

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Asked 9/2/2013 8:57:26 AM
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The market basket is _____________. a. another term for the CPI. b. a term used to define consumers in a given market. c. a representative collection of goods and services. d. a continuous rise in the price of goods or services combined with the reduced value of money
Weegy: The market basket is a term used to define consumers in a given market. User: When Alison, a college math professor, leaves her job at a small rural college and starts looking for a job at large urban university, she is a. frictionally unemployed. c. cyclically unemployed. b. structurally unemployed. d. a discouraged worker Weegy: b User: A recession is the period in which real GDP increase over two consecutive quarters User: The “market basket” that is used by the Bureau of Labor Statistics to calculate prices is made up of which of the following? a. food items only b. nonfood items only c. typical goods and services for an urban household d. food and necessary services for any family Weegy: The market basket? that is used by the Bureau of Labor Statistics to calculate prices is made up c.typical goods and services for an urban household. User: A recession is the period in which real GDP declines for two consecutive quarters. User: What is the difference between seasonal unemployment and structural unemployment? a. Seasonal unemployment occurs because of schedules, whereas structural occurs because people lack skills. b. Seasonal unemployment is rare in a modern society, whereas structural is not. c. Seasonal unemployment occurs only in the summer, whereas structural can occur all year round. d. Seasonal unemployment is generally among low-paid workers, whereas structural is among the highly paid. Weegy: A. Seasonal unemployment occurs because of schedules, whereas structural occurs because people lack skills. User: Business fluctuations are systematic increases and decreases in real GDP. Weegy: The answer is False. User: The Quantity Theory states that inflation a. occurs when demand for goods and services exceeds existing supply. b. is caused by too much money in the economy. c. occurs when producers raise prices ... (More)
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Expert Answered
Asked 9/2/2013 7:25:21 AM
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Which of the following statements about sectors and incomes is FALSE? a. The consumer sector receives its income in the form of disposable personal income. b. The business sector receives its income from depreciation and retained earnings. c. The foreign sector receives its income from borrowed savings. d. The government sector receives its income from taxes.
Weegy: a. The consumer sector receives its income in the form of disposable personal income. (More)
Question
Expert Answered
Updated 5/19/2014 11:43:26 AM
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The following FALSE statement about sectors and incomes is: The business sector receives its income from depreciation and retained earnings.


Added 5/19/2014 11:43:26 AM
output-expenditure model
Weegy: The ouput- expenditure model is given by: Y = C+I+G. Since, C depend on (Y-T) where Y is the ouput Or income, T is Tax Revenue, C is consumption expenditure, I is Investment expenditure and G is govt. [ expenditure, it is easy to see how fiscal policy works under conditions of unemployment/ underemployment in excess of normal / natural rate of unemployment. If the Govt. reduces T, Disposal income rises, which means people will consume more and hence C will increase without any change in I and G. This in turn, implies that Y has to/ will increase to maintain equilibrium for matching of income (output) or aggregate increase and aggregate expenditure increase. This is more sharply demonstrated by the Tax multiplier. If b is the marginal propensity to consume , then taking the first derivative of the output - expenditure equation above, we get, dY/ dT = (dC/dY)*{(dY/dT - dT/dT} + dI/dT +dG/dT = b*{(dY/dt) -1} + 0 + 0= b(dY/dT) - b or (1-b)* (dY/dt) = - b or, dY/dt = - b/ (1-b), that is if Tax is reduced, income increases (note the negative sign, implying opposite direction of movement between Y and T), by a multiple of the reduction in taxes. Similarly, if Govt increases its expenditure all other things remaining the same, income or output has to increase. Again, the equation becomes dY/ dT = (dC/dY)*{(dY/dT - dT/dT} + dI/dT + dG/dG = b*{(dY/dt) -0} + 0 + 1= b*(dY/dT) + 1, or (1-b)* (dY/dt) = 1 or, dY/dt = 1 / (1-b). TYhis shows a fiscal policy of increase in Govt. expenditure has to cause a multiple increase in output or income for the aggregate demand and aggregate supply to match for equilibrium. This is how fuiscal policy instruments of chnage in T and G achieves the goal of monetary policy to eliminiate deflationary gap, reduce unemployment and increase income ( output increase is possible by increasing employment of unemployed people availkable at going wage rates). As fotr monetary policy, we have to think of the money market first. Money supply is ... (More)
Question
Expert Answered
Asked 9/2/2013 8:49:59 AM
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C + G + I +F is the formula to determine GDP. What does the G in the formula represent? a. government spending c. grants b. goods d. gambling
Weegy: C + G + I +F is the formula to determine GDP. What does the G in the formula represent? G represents Government Spending (More)
Question
Expert Answered
Asked 9/2/2013 9:05:42 AM
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Which of the following is a limitation of GDP? a. Impact of production on quality of life. c. It measures only goods, not services. b. Depreciation d. Double counting, because it includes intermediate goods and final goods.
Weegy: The answer is d. Double counting, because it includes intermediate goods and final goods. en.wikipedia.org/wiki/Gross_domestic_product Cached Similar (More)
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Expert Answered
Asked 9/2/2013 9:07:09 AM
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