If We Add Up the Consumer Spending on Goods and Services

question 127

Multiple Choice

If we add up the consumer spending on goods and services, investment spending, government purchases of goods and services, and the value of exports, then subtract the value of imports, we have measured the nation's:

• A) disposable income.
• B) gross domestic product.
• C) trade deficit.
• D) budget deficit.

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Definitions:

Health Insurance

A type of insurance coverage that pays for medical and surgical expenses incurred by the insured or provides reimbursement for health expenses.

Incentive

A benefit, reward, or cost that motivates individuals or entities to act in a particular way.

Rugby Team

A group of players assembled to participate in rugby matches, typically consisting of fifteen players in union or thirteen in league formats.