1- Which of the following are not part of the Expenditures Approach to Calculating GDP?

1,Net Exports

2,Government Spending

3,Grosse Private Domestic Consumption

4,Consumption Expenditures

5,Taxation

2-The Fair Tax has been discussed many times in the US since its introduction in the earlier years of the 21st Century.Which of the following best describes it?

1. None of the Above
2. A Proportional Tax, which is why it is called FAIR
3. A Progressive Tax, aimed at making the Wealthy Pay their Share
4. A Regressive Tax, which could do irreparable harm to the US economy

3-Sometime in the past few decades we switched from using GDP to

GNP as a measurement of the size of the US economy.

Group of answer choices

1. True
2. False

4-GDP is not a good measure of our social progress as a civilization.

1. True
2. False

5-The Trough is the best phase of the business cycle to start a new business is a Recession, according to your instructor.

1. True
2. False