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5 Written questions

5 Matching questions

  1. NNP
  2. proprietor's income
  3. national income
  4. personal saving
  5. transfer payments
  1. a gross national product-depreciation
  2. b amount of disposable income left after personal spending
  3. c the total income earned by the factors of production owned by a country's citizens
  4. d income of unincorporated businesses
  5. e Cash payments made by the gov to people who don't supply good, services, or labor in exchange.

5 Multiple choice questions

  1. measures income recieved by all factors of production in producing final goods and services
  2. households are spending a large amount relative to income
  3. y/n?
  4. year chosen for the weights in a fixed-weight procedure
  5. uses weights from a given base year

5 True/False questions

  1. gnptotal market value of all final goods and services produced within a given period by factors of production owned by a country's citizens, regardless of where the output is produced


  2. contraction/slumpfrom trough to peak with increased output&employment


  3. 2 limits of GDP conceptSocial welfare isn't measured
    Nonmarket activites not counted
    does not reflect losses or societal ills
    don't measure pollution
    distributive policies
    underground economy


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


  5. surplus of government enterprisescurrent prices we pay for goods and services


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