equation
PAT24
1. The equation above represents one of the most important variables in macroeconomics. Which of the following statements is FALSE about this equation?
Answer
|
| It is equal to GDP. | |
|
| It is equal to aggregate expenditure. | |
|
| It is equal to consumption, investment, government purchases, and net exports for an economy. | |
|
| It measures the market value of all final goods and services produced in the economy annually. | |
|
| It measures economic performance. | |
|
| Its components are broken down with the circular flow of income and expenditure model. | |
|
| It is equal to disposable income times net taxes. |
13 years ago
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