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5 Written questions

5 Matching questions

  1. personal saving
  2. weight
  3. aggregate output
  4. gnp
  5. GDP
  1. a importance attached to an item within a group of items
  2. b total quantity of goods and services produced in an economy in a given period
  3. c amount of disposable income left after personal spending
  4. d total 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
  5. e the market value of all final goods and services produced within a given period of time by factors of production located within a country.

5 Multiple choice questions

  1. from trough to peak with increased output&employment
  2. year chosen for the weights in a fixed-weight procedure
  3. peak to trough during which employment and output fall
  4. promissory notes issued by firms when they borrow money
  5. GDP=Final sales+change in business inventories

5 True/False questions

  1. GNI (gross national income)the total income earned by the factors of production owned by a country's citizens

          

  2. inventoriesgoods that firms produce now but intend to sell later.

          

  3. statistical discrepancydata measurement error

          

  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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