Answer Questions For Review #1 and #8 at the top of page 510Answer Questions For Review #1 in the middle of page 527Page 5101.
1] An economy's income is same at its expenditure because in every transaction there aretwo parties: the seller and a buyer.
Every dollar of spending by a buyer is a dollar ofspending for a seller
)It is desirable for a country to have a large GDP because its the market value of all finalgoods and services produced in a country in a given period of time.
You would want theGDP to be large so that the value of goods is higher.
Countries with a large GDP allowsthe people of that country to live better lives.
5271)I think a 10 percent increase is the price of chicken has a greater effect on the consumerprice index because more people on a whole buy chicken than caviar.