In Order to Measure Gross Domestic Product,we Can Follow

question 12

Multiple Choice

In order to measure gross domestic product,we can follow

• A)only one approach: the circular flow approach.
• B)two approaches: the expenditure approach and the income approach.
• C)only one approach: the national accounts approach.
• D)three approaches: the expenditure approach,the income approach,and the production approach.
• E)three approaches: the expenditure approach,the income approach,and the market-based approach.

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Definitions:

UCC Section 3-401

A provision within the Uniform Commercial Code that pertains to the authorization and validity of signatures on negotiable instruments, contributing to their enforceability.

Negotiable Instrument

A signed document promising payment to a specified person or the bearer under certain conditions, like checks, drafts, and promissory notes.

Indorser's Liability

The responsibility borne by a person who endorses a negotiable instrument, such as a check, potentially making them liable for its payment.

Presentment

The formal presentation of a financial instrument, such as a check, for payment.