-Refer to the Above Table

question 397

Multiple Choice

-Refer to the above table. When real GDP equals $16 trillion,

• A) government expenditures will increase.
• B) the economy is in equilibrium.
• C) unplanned inventories will increase.
• D) unplanned inventories will decrease.

Identify the different types of markets and their functions (factor, output, and product markets).

Recognize the role and characteristics of entrepreneurs in the business world.

Distinguish between households and firms within an economic framework.

Grasp the concept of factors of production and their relevance in economic activities.

---

Definitions:

Social Worker

A professional dedicated to helping individuals, families, and communities to cope with problems and improve their well-being.

Unused Morphine Pills

Refers to morphine tablets that have been prescribed but not taken by the patient and pose a risk for misuse or abuse.

Insulin Dose

The specific amount of insulin administered to a person with diabetes to manage their blood glucose levels.

Acid-base

Refers to the balance between acids and bases in the body's fluids, essential for maintaining optimal physiological conditions.