This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: What is the relationship shown by the circular flow among income, total expenditure, and GDP? ... (Read 61 times)

LaDunn

  • Hero Member
  • *****
  • Posts: 526
on: Jun 29, 2018
What is the relationship shown by the circular flow among income, total expenditure, and GDP?
 
  What will be an ideal response?

Question 2

During a recession, the average duration of unemployment tends to
 
  A) be unpredictable.
  B) be about the same as during an expansion.
  C) decrease.
  D) increase.
  E) remain constant.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

trog

  • Sr. Member
  • ****
  • Posts: 343
Reply #1 on: Jun 29, 2018
Answer to Question 1

They are all equal. The value of production, which is GDP, equals income because firms pay factors (income) the revenue they receive from selling the goods and services they produce (GDP). Next, the revenue that firms receive from selling the goods and services they produce (GDP) is equal to what is spent as expenditures on the goods and services. (total expenditure).

Answer to Question 2

D


LaDunn

  • Member
  • Posts: 526
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

gcook

  • Member
  • Posts: 343
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Children of people with alcoholism are more inclined to drink alcohol or use hard drugs. In fact, they are 400 times more likely to use hard drugs than those who do not have a family history of alcohol addiction.

Did you know?

After 5 years of being diagnosed with rheumatoid arthritis, one every three patients will no longer be able to work.

Did you know?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

Did you know?

Famous people who died from poisoning or drug overdose include, Adolf Hitler, Socrates, Juan Ponce de Leon, Marilyn Monroe, Judy Garland, and John Belushi.

Did you know?

Pope Sylvester II tried to introduce Arabic numbers into Europe between the years 999 and 1003, but their use did not catch on for a few more centuries, and Roman numerals continued to be the primary number system.

Overview of blood flow through vessels in a closed circulatory system. Overview of blood flow through vessels in a closed circulatory system.
Ground cover and colour such as shown here in (a) white sand Ground cover and colour such as shown here in (a) white sand
Relationship between body size and seed size in Galapagos finch species Relationship between body size and seed size in Galapagos finch species
(a) Yucca baccata in full flower; (b) a Yucca moth, Tegeticula planella, ovipositing on a Yucca flow (a) Yucca baccata in full flower; (b) a Yucca moth, Tegeticula planella, ovipositing on a Yucca flow
Relationship between thymidylate synthase and enzymes of tetrahydrofolate metabolism Relationship between thymidylate synthase and enzymes of tetrahydrofolate metabolism
Saving Rate by Decile of Income per Capita Saving Rate by Decile of Income per Capita
Video: Glucose anabolism reactions: Glycogenolysis and Gluconeogenesis

For a complete list of videos, visit our video library