Article Summary Gains in Consumer Spending and Construction Gave GDP a Bigger

question 17

Multiple Choice

Article Summary
Gains in consumer spending and construction gave GDP a bigger boost than was forecast in the second quarter of 2015,growing at an annualized rate of 3.9 percent.Declining energy prices,rising home prices,and increased employment are being credited for much of the gain in consumer spending,which grew at an annualized rate of 3.6 percent.Increases in commercial and residential construction boosted business investment spending,which grew at an annual rate of 5.2 percent.Government spending also grew at an annual rate of 2.6 percent for the quarter.Economists cited the primary obstacle for continuing this growth pace in the third quarter is the need to reduce excess inventories.
-Refer to the Article Summary.The increase in GDP discussed in the article summary was due in part to increases in commercial and residential construction.Increases in commercial and residential construction will cause a(n) ________ the aggregate expenditure curve.

• A)movement up along
• B)movement down along
• C)downward shift of
• D)upward shift of

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Definitions:

Total Quality Management

A management approach focused on long-term success through customer satisfaction, involving all members of an organization in improving processes, products, services, and culture.

Strategic Objectives

Specific, measurable goals that an organization aims to achieve to realize its strategic vision and mission.

System Inputs

The necessary resources, data, or materials required by a system to produce outputs.

TQM

Total Quality Management, a management approach focused on continuous improvement of all organizational processes, products, and services.