If an economy's GDP falls, then it must be the case that theeconomy"s

A. Income and saving fall

B. Income and market value of all production both fall.

C. Income falls and market value of all production rises.

d.Income rises and market value of all production falls.

2. Gross Domestic product measures

a. Income and expenditure.

B. Income

c. Expenditure.

d. Neither.

3. If all quantitites produced in the uNited states rise by13.4% and all prices fall by 13.4% which of the followingoccurs?

Does Real GDP rise or fall? Does nominal GDP rise or fall?

4. Which of the following does not add to US GDP?

a. The federal gov. Sends a socia securit check to yourgrandmother.

b. CIty of new york pays a salary to a policemen.

c. Air france buys a plane from Boeing, the uS aircraftmanufacturer.

5. IS the best single measure of a societys economic well-beingthe unemployment rate or the GDP?

6. Keynesian economics was developed by John Keynes in responseto:

A. The great recession.

b. The great depression.

C. Out of control gov. spending.

17. For an economy as a whole,

a. Wages must equal profit.

b. consumption must equal incom.

c. Income must equal expenditure.

d. Consumption must equal saving.

8. As in the case f Ireland, Keynesian exonomics does not tendto work in countries which:

a. Are large and self-sustaining.

b. Are small and insulated.

c. Are medium sized with good governments.

d. Are smaller and are open to free (ish) trade.

e. Are large and have free trade.

Thanks! PLease be as detailed as you can.!

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The detailed answer for the above question is provided below 1The answer is B Income and market value of all production both fall Explanation GDP is the total market value of all goods and services pr... View the full answer