Question 1 (1 point) The economic problems studied in 1 the level of cconomic ac

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Question 1 (1 point) The economic problems studied in 1 the level of cconomic activity: 2) competition policy: 3) the rate of unemployment. s include 1 only 2 only 3 only 1 and 2 1 and 3 Question 2 (1 point) A nation's real national income in a given year measures the level of national income that is subject to taxation by the federal government. market value of national output produced by the economy value of output produced by the economy, measured in constant dollars. opportunity cost of the economy's national output dollar income eamed by the nation's producing sector Question 3 (1 point) In macroeconomics, the term "national income" refers to all sales of both current production and used goods. only those sales of currently produced goods sold to other nations. the value of a nation's total wealth. total current spending by all households. the value of the income generated by the production of total output. Save Question 4 (1 point) To compare the economy's aggrcgate output in two different time periods, economists compare t he nominal national income for the two periods inflation rates for the two periods real national income for the two periods. unemployment rates for the two periods. potential national incomes for the two periods. Save Question 5 (1 point) In macrocconomics, if the value of the national product increases, there is a decrease in the value of income claims on that output, due to household saving. an equal increase in the value of income claims on that output. a decrcase in value of income claims on that output, due to taxation. an even larger increase in the value of income claims on that output, due to value added. a decrease in the value of income claims on that output, due to imparting. Saw Save All Responses Go to Submit Quiz

Explanation / Answer

1. Macroeconomics study economic wide activity and the factors which has an impact over whole economy. Therefore 1 and 3 option are studied under Macroeconomics.

2. Real National Income is nominal or, money national income (output) adjusted for inflation, at constant prices. Option c.

3. National income is the total amount of money earned within the country. Thus it includes value of all the goods and services produced within the country.

Hence, The value of the income generated by the production of total output.

4. Real national income for the two periods

5. An equal increase in the value of income claims on that output

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