In the circular flow of economic activity
A) aggregate expenditure measures the dollar value of purchases of factors.
B) aggregate expenditure measures the dollar value of purchases of final goods and services.
C) aggregate income measures the dollar value of labor resources only.
D) aggregate expenditure is measured as it moves through the financial markets.
Question 2
Using the definition of unemployment, which of the following individuals would be unemployed?
A) A full-time student quits school, enters the labor market for the first time, and searches for employment.
B) Because of the increased level of automobile imports, an employee of General Motors is laid off but expects to be called back to work soon.
C) Because of a reduction in the military budget, your next door neighbor loses her job in a plant where nuclear warheads are made and must look for a new job.
D) All of these individuals are unemployed.
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