1. the aggregate supply curve shows the negative relationship between general price and real GDP. True or false 2. Other things equal, as the number of discouraged workers rises in an economy, the gap between potential and actual real GDP will widen. True or False 3. According to the expedenitures approach, gross domestic product represents the sum of consumption spending, government spending, net exports, and net investments. True or False 4. In a business cycle, a peak marks the end of an expansion and the beginning of a recession. True or False 5. GDP is based on the market value of goods and services produced in an economy and not on the value of only final goods and services. True or Fasle
1. the aggregate supply curve shows the negative relationship between general price and real GDP. True or false 2. Other things equal, as the number of discouraged workers rises in an economy, the gap between potential and actual real GDP will widen. True or False 3. According to the expedenitures approach, gross domestic product represents the sum of consumption spending, government spending, net exports, and net investments. True or False 4. In a business cycle, a peak marks the end of an expansion and the beginning of a recession. True or False 5. GDP is based on the market value of goods and services produced in an economy and not on the value of only final goods and services. True or Fasle
Chapter19: Measuring Economic Performance
Section: Chapter Questions
Problem 7P
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