Any Expenditure Component That Depends on the Level of Real

question 259

Multiple Choice

Any expenditure component that depends on the level of real GDP is called

• A) induced expenditure.
• B) equilibrium expenditure.
• C) autonomous expenditure.
• D) spurious expenditure.

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Definitions:

Diversity

The inclusion and representation of different groups of people, such as races, cultures, ages, and genders, within a community or organization.

Economies Of Scale

Refers to the cost advantage that arises with increased output of a product, where the per-unit cost decreases as the production scale becomes larger.

Profit Margin

A financial ratio expressing the percentage of revenue that remains as profit after all expenses are deducted from sales, indicating the financial health and efficiency of a business.

Construction Industry

The sector of the economy that deals with the construction, maintenance, and repair of buildings, roads, and other physical structures.