Three Equivalent Ways to Measure GDP Are Total ________, Total

question 141

Multiple Choice

Three equivalent ways to measure GDP are total ________, total ________, and total ________.

• A)profits; production; saving
• B)production; income; expenditure
• C)investment; consumption; saving
• D)expenditure; income; profits

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Definitions:

Effortful Thinking

The cognitive processing that requires a deliberate, conscious effort to solve complex problems or to gain new insights.

Representativeness Heuristic

A cognitive shortcut that involves judging the probability of an event by its similarity to a prototype or example.

Availability Heuristic

A mental shortcut that relies on immediate examples that come to a given person's mind when evaluating a specific topic, concept, method, or decision.

Heuristic

A rule-of-thumb or shortcut that is used to make decisions or solve problems more quickly.