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Economics Quiz

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Questions and Answers

Which of the following is NOT a key question in economics?

Factors determining total income

Equilibrium of supply and demand (correct)

Income distribution among factors

Purchases in the economy

What does GDP measure?

Total output and income (correct)

Total output and population

Total income and consumption

Total population and income

What are the factors that determine total production (GDP)?

Savings and investment

Government revenue and spending

Technology and consumption

Capital and labor (correct)

What are the crucial inputs for production?

<p>Capital and labor</p> Signup and view all the answers

What does the production function relate?

<p>Capital, labor, and output</p> Signup and view all the answers

Economics Quiz

Choose a study mode

Podcast

Questions and Answers

Which of the following is NOT a key question in economics?

What does GDP measure?

What are the factors that determine total production (GDP)?

What are the crucial inputs for production?

What does the production function relate?

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