According to the Circular-Flow Diagram GDP

question 14

Multiple Choice

According to the circular-flow diagram GDP

• A)can be computed as the total income paid by firms or as expenditures on final goods and services.
• B)can be computed as the total income paid by firms,but not as expenditures on final goods and services.
• C)can be computed as expenditures on final goods and services,but not as the total income paid by firms.
• D)cannot be computed as either total income paid by firms or expenditures on final goods and services.

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Definitions:

Decision Rules

Guidelines or criteria used to make choices between alternatives in decision-making processes.

Performance Opportunity

refers to situations or conditions that allow an individual or organization to perform tasks or activities effectively, enhancing overall performance.

Actual Situation

The real and present condition or state of affairs, without any alterations or embellishments.

Better Than Anticipated

Results or outcomes that surpass the expected or forecasted standards.