39 in a simple circular-flow diagram that explains gdp, total income and total expenditure are
GDP measures two things at once: the total income of everyone in the economy and the unemployment rate of the economy's labor force. b. Money continuously flows from households to government and then back to households, and GDP measures this flow of money. c. GDP is to a nation's economy as household income is to a household. d. Macroeconomics (from the Greek prefix makro-meaning "large" + economics) is a branch of economics dealing with performance, structure, behavior, and decision-making of an economy as a whole. For example, using interest rates, taxes, and government spending to regulate an economy’s growth and stability. This includes regional, national, and global economies. GDP is basically the value of all goods and services created in a country in a given year. However, as this circle tells us, all the money spent on goods and services (G/S) eventually is paid out in the form of income. So, GDP can also be the sum total of all the income in a count...