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5 Written questions

5 Matching questions

  1. personal income(PI)
  2. real GDP
  3. current GDP
  4. macroeconomics
  5. gross domestic product
  1. a the study of the economy as a whole, including topics such as inflation, unemployment, and economic growth
  2. b the dollar amount of all final goods and services produced within a country's borders in a year.
  3. c the total amount of income going to consumers before individual taxes are subtracted
  4. d gross domestic product measured in current prices unadjusted for inflation
  5. e gross domestic product after adjustments for inflation

5 Multiple choice questions

  1. economic activities that do generate expenditures in the market; mowing your own lawn
  2. the sales of used goods
  3. the point where the country would balance if it could be laid flat and everyone weighed the same
  4. the high birthrate years from 1946 to 1964
  5. makes up the remiander of the total ; people who live in sparsely populated areas along the fringes of cities

5 True/False questions

  1. disposable personal income(DPI)the total income the consumer sector has at its disposal after personal income taxes


  2. intermediate productsproducts that are components of other final products included in GDP;tires or radios on a new car


  3. Gross National Product(GNP)gross national product minus depreciation charges for wear and tear on capital equipment


  4. Net National Product(NNP)total dollar value of all final goods, services, and structures produced in one year with labor and property owned by a contry's residents, regardless of where the production takes place: largest measure of a nations income


  5. Censusgross domestic product after adjustments for inflation


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