MATCHING Choose the Item in Column 2 That Best Matches

question 1

Multiple Choice

MATCHING. Choose the item in column 2 that best matches each item in column 1.
Match the term with the correct description.
-Multiplier effect

• A)The bed tax
• B)The measures that tells how sensitive demand is for one good or service to changes in the price of a related good or service
• C)The ripple effect
• D)A set of "accounting" rules to measure the economic contributions of tourism as an industry
• E)The state of pricing at which quantity demanded equals quantity supplied
• F)The cost of a resource is its value in its next best use
• G)The measures that tells how sensitive demand is to changes in income
• H)The total value of goods and services produced in a nation
• I)A variation pricing based on demand
• J)A leakage from a destination area

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Definitions:

Aggregate Production

The total output of goods and services produced by an economy over a given period.

Aggregate Purchases

The total amount spent on goods and services within an economy at a given period of time.

Unintended Inventory Investment

Occurs when a business accumulates inventory beyond its planned level, often due to lower than expected sales.

Rate of Interest

The percentage of a sum of money charged for its use, typically expressed annually, influencing borrowing, lending, and investment activities.