The First Step in Setting Up a Monitoring System Is

question 38

Multiple Choice

The first step in setting up a monitoring system is to __________.

• A)collect existing data to see what data is relevant and available
• B)collect every available piece of information so it can be analyzed
• C)use whatever information is available
• D)identify the key factors to be controlled

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Definitions:

National Saving

The total amount of savings in a country, which is comprised of both private savings by households and the savings of the government, representing the difference between a nation’s income and consumption.

Open Economy

An economy that allows for trading and financial transactions with other countries.

Investment

Refers to the purchase of goods that are not consumed today but are used in the future to create wealth, such as purchasing machinery for a factory.

Net Capital Outflow

The difference between domestic residents’ investments abroad and foreigners’ investments in the domestic economy.