According to the Expenditure Approach,if Y Is GDP,C Is Consumption,I

question 12

Multiple Choice

According to the expenditure approach,if Y is GDP,C is consumption,I is investment,G is government purchases,and NX is net exports,which of the following is the national income identity?

• A)Y = C + I + G - NX
• B)Y = C + I + G + NX
• C)Y + C = I + G + NX
• D)Y = (C + I + G)/NX
• E)Y = C + I + G

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Definitions:

Average Cost

The average amount it costs to produce one unit of goods or services, calculated by dividing the total cost of production by the total number of units produced.

Ending Inventory

The value of goods available for sale at the end of an accounting period, crucial for calculating cost of sales and net income.

Fire Screens

Protective screens placed in front of fireplaces to prevent sparks and embers from escaping into the room.

Retail Values

The total price at which goods or services are sold to the public, inclusive of any markup costs.