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Economics

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Okey Veum

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Cards in this guide (9)
What institution is responsible for measuring the strength of the US economy

Bureau of Economic Analysis

Which component of the GDP refers to the total of all personal expenditures by anyone within the country

personal consumption

Which Individual Makes All Decisions And Gains All Profits

the owner

Which of these describes how real GDP is calculated

based on previous year pricing with adjustments made to accommodate for inflation.

Which of these statements regarding the gross domestic product is not true

the GDP includes only the firms that are owned by American citizens.

Which of these is calculated in current dollar values

nominal GDP

Which of these is the correct formula for calculating the GDP

C + i + g + n = gdp

Which term refers to any item of economic value owned by a corporation

assets

According to Quesnay which class created no economic wealth

wealthy landowners A+

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