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5 Written questions

5 Matching questions

  1. personal income(PI)
  2. Baby Boom
  3. intermediate products
  4. disposable personal income(DPI)
  5. center of population
  1. a the total income the consumer sector has at its disposal after personal income taxes
  2. b products that are components of other final products included in GDP;tires or radios on a new car
  3. c the total amount of income going to consumers before individual taxes are subtracted
  4. d the high birthrate years from 1946 to 1964
  5. e the point where the country would balance if it could be laid flat and everyone weighed the same

5 Multiple choice questions

  1. economic activities that do generate expenditures in the market; mowing your own lawn
  2. 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
  3. gross national product minus depreciation charges for wear and tear on capital equipment
  4. makes up the remiander of the total ; people who live in sparsely populated areas along the fringes of cities
  5. the dollar amount of all final goods and services produced within a country's borders in a year.

5 True/False questions

  1. real GDPgross domestic product measured in current prices unadjusted for inflation


  2. infrastructurethe highways,levees, mass transit, communications systems, electricity, water, sewer, and other publicgoods needed to support a population


  3. base yeara year that servesw as the basis of comparison for all other years


  4. underground economyeconomic activities that are not reported for legal or tax collection purposes; like gambling or smuggling


  5. secondhand salesthe sales of used goods


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