EXAM 1

Question 1

GDP

Answer 1

measures all production, expenditures , or income in an economy

Question 2

capital

Answer 2

manufactured goods owned by buisnesses to produce goods and services. can be used many times + makes something

Question 3

example of capital goods

Answer 3

equipment owned by a construction company, wind turbines owned by a power company, hammer owned by a carpenter, manufacturing plant

Question 4

Investment

Answer 4

The purchase of capital goods, change in inventories (goods to be used or sold later) by a business or the purchase of a new house or apartment