True or False?? 47- The US economy grew by 5.7% in the 3rd quarter of 2014 48A c

Question

True or False??

47- The US economy grew by 5.7% in the 3rd quarter of 2014 48A considerab le increase in consumer spending and Government expenditure will undoubtedly accelerate GDP growth in the first quarter of 2013 49 -Consumer spending makes up about 70% of the US GDP. 50 Both intermediate and final goods are counted as part of GDP. 51 A product that was produced in 2012 and not sold until 2013 is counted as part of GDP in 2013. 52 Net exports 53 Personal consumption 54 There is no difference between the Absolute income Hypothesis and the Permanent income hypothesis (ie. Xn in GDP-C+I+G+Xn are positive when exports are greater than imports expenditures (PCE) only include expenditures for durable, nondurable goods, and ser 55. The countries with the highest overall GDP are the USA, China, Japan and Germany. Answer: During the latest Recession (2007-2009) in the USA, the GDP growth was between 1.2% and 3.5 % Answer: 56

Explanation / Answer

47. FALSE 3.9%

48. TRUE

49. TRUE

50. FALSE ONLY FINAL GOODS

51.FALSE PART OF INVENTORY, GDP IS NEWLY PRODUCED GOODS AND SERVICES

52.TRUE X>M

53. TRUE

54. FALSE

55. TRUE

56. FASLE

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