Question Details

Which of the following are equal to one another 



1) In the above figure, household income is shown by flow
A) A.
B) B.
C) C.
D) F.

2) In the above figure, consumption expenditure is shown by flow
A) A.
B) B.
C) C.
D) F.
3) Which of the following are equal to one another ?
I. aggregate production
II. aggregate expenditure
III. aggregate income
A) I equals II, but not III.
B) I equals III, but not II.
C) II equals III, but not I.
D) I equals II equals III.

4) Choose the best statement.
A) GDP equals aggregate expenditure and equals aggregate income.
B) An increase in government purchases increases aggregate expenditure but does not
change GDP.
C) An increase in compensation of employees increases aggregate income but does not
change GDP.
D) GDP always equals aggregate expenditure and sometimes equals aggregate income.
5) According to the circular flow diagram, the dollar value of a nationʹs output is equal to
A) profits.
B) total income.
C) net income minus taxes.
D) wages.




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