The system of accounts for each country, based on the circular flow, whose purpose is to...
The system of accounts for each country, based on the circular flow, whose purpose is to measure the level of economic activity is called:
A.
bookkeeping.
B.
national income accounting.
C.
the underground economy.
D.
none of the above
Homework Answers
Ans) the correct option is B. national income accounting.
The purpose of National income accounting system is to measure the level of economic activity in that country
Add Answer to:
The system of accounts for each country, based on the circular
flow, whose purpose is to...
1. The circular flow diagram implies that if accounting is done correctly, _______. A) the flow...
1. The circular flow diagram implies that if accounting is done correctly, _______. A) the flow of expenditure must equal the income of the households making those expenditures. B) the flow of expenditure must exceed the income of the households making those expenditures. C) the flow of income must exceed the implied value of the factors of production D) the implied value of the factors of production must exceed the flow of income 2. Total efficiency units of labor is...
Study Guide Macroeconomics Page 13 9. The simple two sector circular flow model is said to...
Study Guide Macroeconomics Page 13 9. The simple two sector circular flow model is said to be in equilibrium when A. total leakages exactly match total injections B. there is no tendency for money flows to change C. real and money flows are in balance D. all the above apply E. 10. The MPC for an economy A. increases as national income increases B. falls as national income increases C. remains constant for any change in national income D. falls...
7. Which one of the following is an example of the circular flow model and shows...
7. Which one of the following is an example of the circular flow model and shows the interdependence of households and firms? a. The firms go to the resource market to supply resources that households demand and, in turn, provide households with the goods and services produced for the product markets. b. Households demand their resources from the firms in the factor markets and, in turn, supply in the product market the goods and services produced by firms. c. The...
Which of the following best describes the relationship between a stock concept and a flow concept?...
Which of the following best describes the relationship between a
stock concept and a flow concept?
A stock concept has a time period
associated with it, whereas a flow concept is an amount of
something at a given point in time.
A stock concept is an amount of something at a given point in
time, whereas a flow concept has a time period associated with
it.
______________________________________________________________________________
What expenditure category of production is largest for most
countries?
Investment
Consumption
Net...
question 1 and 5 8 je Circular Flow of Economic Activity Worksheet 1. Which of the...
question 1 and 5
8 je Circular Flow of Economic Activity Worksheet 1. Which of the following is NOT one of the three fundamental economic participants a. households b. businesses c. banks d. government 2. The simple circular flow model shows that: a. households are on the selling side of the resource market and the buying side of the product market. b. households are on the buying side of both product and resource markets c. businesses are on the buying...
Refer to the figure to the right. One segment of the circular flow diagram shows the...
Refer to the figure to the right. One segment of the circular flow diagram shows the flow of funds from economic agents E to market F. Who are economic agents E and what is market F? Economic Agents OA. E-firms; F-product markets Flow of funds B. ° C. O D. E-households; F = product markets E-households ; F = factor markets None of the above. Market Economic Agents Spending on Goods and Services Economic Agents Flow of funds Market Economic...
Which of the following is NOT true about gross domestic product (GDP)? a. It includes only...
Which of the following is NOT true about gross domestic product (GDP)? a. It includes only final goods and services. b. The values are measured in current dollars c. Intermediate goods and services are excluded to prevent double counting. d. It includes the value of transfer payments. The gross domestic product (GDP) excludes: a. the value of intermediate goods produced. b. the spending by government on new roads and bridges. c. household spending on goods and services. d. the increase...
D Question 3 1 pts A small European country, Bataphonia, has a national health insurance system. Given this fact...
D Question 3 1 pts A small European country, Bataphonia, has a national health insurance system. Given this fact, the country is more likely to take part in which of the following action or actions regarding their health care system: (Level 3) a Cover all persons in the country, b. Implement supply-side rationing c. Have a lesser growth in the area of medical technology d. None of the above c. All of the above Question 4 1 pts Insurance is...
(49)Which of the following statements is true? GNP: (a)Measures the total output of final goods and...
(49)Which of the following statements is true? GNP: (a)Measures the total output of final goods and services within a country’s economy in a year (b)Includes only goods and services produced by the citizens of a country (c)Includes intermediate inputs (d)All of the above (50)Which of the following statements is false? The monetary value of the output of $20 billion worth of cars by the Honda Corporation in India’s economy would be counted in: (a)Japan’s GNP (b)India’s GDP (c)America’s GNP (d)All...
Scenario: Country X and Country Y production amount of physical capital stock available to each country is also equal. However, the labor supply for Country X is Ho while the labor supply for Cou...
Scenario: Country X and Country Y production amount of physical capital stock available to each country is also equal. However, the labor supply for Country X is Ho while the labor supply for Country Y is Hy identical aggregate production functions as shown in the figure below. The Output 0 H, H, Efficiency units of Labor 8) Refer to the scenario above. A one-unit increase in the efficiency units of labor will lead to in output in Country X than...
Study Guide Macroeconomics Page 13 9. The simple two sector circular flow model is said to be in equilibrium when A. total leakages exactly match total injections B. there is no tendency for money flows to change C. real and money flows are in balance D. all the above apply E. 10. The MPC for an economy A. increases as national income increases B. falls as national income increases C. remains constant for any change in national income D. falls...
7. Which one of the following is an example of the circular flow model and shows the interdependence of households and firms? a. The firms go to the resource market to supply resources that households demand and, in turn, provide households with the goods and services produced for the product markets. b. Households demand their resources from the firms in the factor markets and, in turn, supply in the product market the goods and services produced by firms. c. The...
Which of the following best describes the relationship between a
stock concept and a flow concept?
A stock concept has a time period
associated with it, whereas a flow concept is an amount of
something at a given point in time.
A stock concept is an amount of something at a given point in
time, whereas a flow concept has a time period associated with
it.
______________________________________________________________________________
What expenditure category of production is largest for most
countries?
Investment
Consumption
Net...
question 1 and 5
8 je Circular Flow of Economic Activity Worksheet 1. Which of the following is NOT one of the three fundamental economic participants a. households b. businesses c. banks d. government 2. The simple circular flow model shows that: a. households are on the selling side of the resource market and the buying side of the product market. b. households are on the buying side of both product and resource markets c. businesses are on the buying...
Refer to the figure to the right. One segment of the circular flow diagram shows the flow of funds from economic agents E to market F. Who are economic agents E and what is market F? Economic Agents OA. E-firms; F-product markets Flow of funds B. ° C. O D. E-households; F = product markets E-households ; F = factor markets None of the above. Market Economic Agents Spending on Goods and Services Economic Agents Flow of funds Market Economic...
D Question 3 1 pts A small European country, Bataphonia, has a national health insurance system. Given this fact, the country is more likely to take part in which of the following action or actions regarding their health care system: (Level 3) a Cover all persons in the country, b. Implement supply-side rationing c. Have a lesser growth in the area of medical technology d. None of the above c. All of the above Question 4 1 pts Insurance is...
Scenario: Country X and Country Y production amount of physical capital stock available to each country is also equal. However, the labor supply for Country X is Ho while the labor supply for Country Y is Hy identical aggregate production functions as shown in the figure below. The Output 0 H, H, Efficiency units of Labor 8) Refer to the scenario above. A one-unit increase in the efficiency units of labor will lead to in output in Country X than...
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