Question

Assuming an upward-sloping as curve, if an economy is at full employment and consumption spending decreases while all other levels of spending remaining constant, then:_______.

Answer 1

Assuming an upward-sloping as curve, if consumption spending falls while all other levels of expenditure stay the same in an economy that is at full employment, a GDP gap will be visible.

Retail store managers will take activities that result in greater Unemployment when undesirable inventories build up.

What is GDP?

• Gross domestic product (GDP) is a monetary indicator of the total market worth of all the finished products that nations create over a certain time period.
• This measurement is frequently changed before it can be trusted as an indicator because of how complicated and subjective it is.
• Consumption, investment, government spending, exports, and imports make up the components of the GDP when it is calculated using the expenditures method.
• Gross fixed capital formation, changes in inventories, changes in consumption expenditure (by households, NPISHs, and general government),
• And exports of goods and services are all included in the calculation of gross domestic product (GDP), which is then subtracted from imports of goods and services.

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