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Economics Macroeconomics

Gross domestic product is calculated by summing up

QUESTION Gross domestic product is calculated by summing up A) the total quantity of goods and services in the economy. B) the total market value of goods and services in the economy. C) the total market value of final goods and services produced in the economy during a period of time. D) the total quantity […]

Categories
Economics Macroeconomics

During a business cycle expansion, total production ________ and total employment ________.

QUESTION During a business cycle expansion, total production ________ and total employment ________. A) increases, increases B) decreases, increases C) increases, decreases D) decreases, decrease   ANSWER The correct option is A) increases, increases.