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true, false and explain in paragraph 1.GDP and gross national product measure the total output produced in a given time period .
true, false and explain in paragraph
1.GDP and gross national product measure the total output produced in a given time period .
2.the unemployment rate only goes down when the economy is in the recovery.
3.the business cycle has four phases, depression, recession, recovery and expansion.
4.people who are discouraged workers are included in the unemployment rate.
5.the consumer price index is an accurate measure of the change in the purchasing power of money.
6.productivity growth results from new technology.
7.consumption is the largest component of GDP as measured by the income approach.
8.the funds for investments come from the household savings, government savings, and imports less exports.
9.income is the same as wealth.
10.if firms expect an increase in the future profits then demand for loanable funds increases.
11.absolute advantage is the same as comparative advantage.
12.money is a social institution that eliminates the need for a double coincidence of wants.
