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5 Written Questions

5 Matching Questions

  1. inventories
  2. current dollars
  3. indirect taxes minus subsides
  4. compensation of employees
  5. Relationship between total production and total sales
  1. a GDP=Final sales+change in business inventories
  2. b goods that firms produce now but intend to sell later.
  3. c wages
    salaries
    various supplements
  4. d sales taxes
    customs duties
    license fees
  5. e current prices we pay for goods and services

5 Multiple Choice Questions

  1. measures income recieved by all factors of production in producing final goods and services
  2. Federal Reserve for
    money quantity
    (affects interest rates)
  3. capital at the beginning+net investment
  4. wages
    rents
    interests
    profits
  5. y/n?

5 True/False Questions

  1. expansion/boomfrom trough to peak with increased output&employment

          

  2. GDPthe market value of all final goods and services produced within a given period of time by factors of production located within a country.

          

  3. national incomethe total income of households

          

  4. personal incomethe total income earned by the factors of production owned by a country's citizens

          

  5. surplus of government enterprisesincome of government enterprises

          

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