Macroeconomics

Which is the correct definition of GDP?

• is the value of all final goods and services consumed within a country's borders in a given year.
• is the dollar value of all intermediate goods and services produced within a country's borders in a given year.
• is the dollar value of all final goods and services produced within a country's borders in a given year.
• is the dollar value of all final goods and services produced within another country and sold to another country in a given year.

true or false: this is the correct formula for GDP - 
I+C+G+XN

• true
• false

which of the following is not a type of GDP?

• real
• inflation
• nominal

which of the following phases of the business cycle means the start of a decline shown by a destine of GDP

• peak
• contraction
• trough
• expansion

Which of the following is not one of the factors affecting growth?

• incentives
• population growth
• government 
• foreign trade

Which type of unemployment means that there are not enough jobs for everyone?

• frictional
• seasonal
• structural
• cyclical

true or false: the definition of inflation is a general decrease in prices and an increase in the value of money.

• false 
• true

What is a budget deficit?

• expenditures exceed revenue
• revenues exceed expenditures

which fiscal policy means policies that try to decrease output?

• expansionary
• contractionary

The Federal Reserve has how many districts

• 10
• 11
• 12
• 13