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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
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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)
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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)
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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)
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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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Asked 9/2/2013 9:07:09 AM
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