Consumption spending, saving, investment, government spending, taxes, and rx exp

Question

Consumption spending, saving, investment, government spending, taxes, and rx exports Consumption spending, saving, investment, government spending, and taxes. Nominal GOP: Has been adjusted for changes in the general price level Measures the real level of output in the economy Measures national output based on the current year's prices Measures changes in the output of services, as opposed lo goods. Real GDP measures Personal income adjusted for taxes paid to the government National output adjusted for changes in the quality of products National output adjusted for price level changes National output adjusted for unemployment Alternating periods of economic growthe and contraction in real GDP define. The Business Cycle Unemployment Inflation Micro Policy Who would be counted as a member of the labor force? A hard-working homemaker who is not employed outside the home A man doing 10 years for armed robbery A retired commander of a US Navy submaFind thee The president of General Motors

Explanation / Answer

6. C. Measures National output based on current years prices

7. C. National output adjusted for price level change

8. A. The Business Cycle

9. D. The president of general motors

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