QUESTION In the circular flow model, the value of total production for an economy ________ the value of total expenditures on final goods and services. is greater than is less than may be greater than or less than equals ANSWER The correct option is 4. equals.
Category: Macroeconomics
Pinned answers to macroeconomics questions.
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 […]
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.