The Three Approaches to Measuring Economic Activity Are the

question 94

Multiple Choice

The three approaches to measuring economic activity are the

• A)cost, income, and expenditure approaches.
• B)product, income, and expenditure approaches.
• C)consumer, business, and government approaches.
• D)private, public, and international approaches.

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Definitions:

Private Property

Ownership of property (land, buildings, or personal items) by individuals or corporations, recognized and protected by law.

Economic Growth, Regulatory Relief, and Consumer Protection Act

is a law intended to ease regulations on small and medium-sized banks and enhance consumer protections.

Truth in Lending Act

A U.S. federal law designed to promote the informed use of consumer credit by requiring disclosures about its terms and cost.

Residential Mortgage Loans

Loans borrowed by individuals for the purpose of purchasing residential properties, secured by the property itself.