3) On average, the United States falls into recession about every 10 years.

False

True

11) Net exports equal

zero, by definition.

exports minus imports.

imports minus exports.

imports plus exports.

13) Which component is NOT used to measure GDP via the income approach?

net interest

net exports

rental income

corporate profits

15) The average income of households using GDP per capita will generally be _____ than the typical median household income in most countries due to the presence of _____.

less; income inequality

less; income assistance programs

greater; income inequality

greater; income assistance programs