BMC Knowledge checks UPDATED Exam Questions and CORRECT Answers
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BMC Knowledge checks UPDATED Exam
Questions and CORRECT Answers
In 2015, an accounting gimmick gave Ireland a 26% growth rate in GDP. What does this even
reflect about the nature of GDP? - CORRECT ANSWER- If the measurement of economic
activity evolves, GDP can change.
5 essential economic ...
BMC Knowledge checks UPDATED Exam
Questions and CORRECT Answers
In 2015, an accounting gimmick gave Ireland a 26% growth rate in GDP. What does this even
reflect about the nature of GDP? - CORRECT ANSWER- If the measurement of economic
activity evolves, GDP can change.
economic growth - CORRECT ANSWER- the ability of the economy to increase the
production of goods and services
GDP = ? - CORRECT ANSWER- C + I + G + (X-M)
Consider the formula GDP = C + I + G + (X - M), A country is udnergoing a boom in
consumption of domestic and foreign luxury goods. In one year, the dollar growth in imports
is greater than the dollar growth in domestic consumption. Assuming nothing else has
changed, what happened to GDP? - CORRECT ANSWER- It went down; As imports act as a
drag on GDP, the larger growth in imports offsets the growth in consumption, thereby causing
GDP to decline.
NH - CORRECT ANSWER- Shows a real-time scroll of new headlines
ECST S - CORRECT ANSWER- provides economic data with context and customizable
graphs
ECOW - CORRECT ANSWER- provides comprehensive data on economic indicators by
country
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