In Calculating GDP, Economists

question 124

Multiple Choice

In calculating GDP, economists

• A)can measure either total expenditure or total income.
• B)measure total income plus total expenditure.
• C)measure total income minus total expenditure.
• D)measure total expenditure as the only true measure.
• E)measure total income as the only true measure.

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Definitions:

Pay Employees

To pay employees means to compensate workers for their services or labor as agreed upon in their employment contract or by regulatory guidelines.

Hours

The measurement of time that an individual works on a given day or for a specific project.

National Labor Relations Board

is an independent federal agency in the United States responsible for enforcing US labor law in relation to collective bargaining and unfair labor practices.

Employed

The state of having a paid position of regular employment or being engaged in an activity or task.