Choose the correct answer and write only the corresponding letter 1.1 The three major flows in a macro economy are: ⦁ a. Total production, total investment and total spending; ⦁ b. Total income, total wages and total rent; ⦁ c. Total production, total income and total spending; ⦁ d. Total production, total spending and total savings. 1.2 In the circular flow of income and spending: ⦁ a. Investment results in a decrease in the volume of the income flow; ⦁ b. Savings result in a decrease in the volume of the income flow; ⦁ c. Taxes result in an increase in the volume of the income flow; ⦁ d. Imports result in an increase in the volume of the income flow.
Choose the correct answer and write only the corresponding letter 1.1 The three major flows in a macro economy are: ⦁ a. Total production, total investment and total spending; ⦁ b. Total income, total wages and total rent; ⦁ c. Total production, total income and total spending; ⦁ d. Total production, total spending and total savings. 1.2 In the circular flow of income and spending: ⦁ a. Investment results in a decrease in the volume of the income flow; ⦁ b. Savings result in a decrease in the volume of the income flow; ⦁ c. Taxes result in an increase in the volume of the income flow; ⦁ d. Imports result in an increase in the volume of the income flow.
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter7: Macroeconomic Measurements, Part Ii: Gdp And Real Gdp
Section: Chapter Questions
Problem 9WNG
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Question 1
Choose the correct answer and write only the corresponding letter
1.1 The three major flows in a macro economy are:
⦁ a. Total production, total investment and total spending;
⦁ b. Total income, total wages and total rent;
⦁ c. Total production, total income and total spending;
⦁ d. Total production, total spending and total savings.
1.2 In the circular flow of income and spending:
⦁ a. Investment results in a decrease in the volume of the income flow;
⦁ b. Savings result in a decrease in the volume of the income flow;
⦁ c. Taxes result in an increase in the volume of the income flow;
⦁ d. Imports result in an increase in the volume of the income flow.
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