The largest spending category in gdp is consumption

Reference no: EM13691150

Macroeconomics Ture-False questions;

1 GDP per capita does not measure the value of all intermediate goods and services produced in the economy.

2 The largest spending category in GDP is consumption.

3 Most of the value added in GDP in the United States is added by consumers rather than business.

4 The peak of the business cycle provides evidence that the recession is soon to come.

5 Suppose there is an excess supply for water in Florida. This means that we can expect the price of water to increase in Florida over time.

6 A non-linear curve has the same slope between every pair of points.

7 On any given production possibility frontier, we see the maximum quantity of one good that can be produced for any given production of the other.

Reference no: EM13691150

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