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If you add up all the transactions in an economy, do you arrive at Gross Domestic Product, Gross National Product, or something else? Explain your answer.

If the government increases transfer payments, what, if anything, will happen to national income?

Have the poor benefited more or less from economic growth than the rich? Why?

How can growth be undesirable? How can growth itself address this problem?

Identify two factors that cause the aggregate demand curve to shift.

Identify two factors that cause the short-run aggregate supply curve to shift.

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Martebi

If you add up all the transactions in an economy,  you will arrive at Gross Domestic Product.

If the government increases transfer payments, Aggregate output would remain the same.

The poor do benefit a lot  from economic growth more than the rich? as the rich are said to be making slow progress.

Two factors that cause the aggregate demand curve to shift are:

  • consumer spending
  • investment spending

Two factors that cause the short-run aggregate supply curve to shift are:

  • Changes in terms of prices of factors of production.
  • Changes in terms of the capital stock.

What is the transactions in an economy about?

If you sum up all the transactions in an economy, a person will arrive at Gross Domestic Product GNP due to the fat that intermediate goods are also part of it.

Note that A change in transfer payments will lead to a shift in the aggregate demand curve as it it will influence consumption.

Have the poor benefited more or less from economic growth than the rich? Why?

Learn more about GNP from

https://brainly.com/question/526578

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