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5 Written questions

5 Matching questions

  1. nominal GDP
  2. capital stock at the end of period is...
  3. monetary policy
  4. stagflation
  5. personal income
  1. a capital at the beginning+net investment
  2. b the total income of households
  3. c Federal Reserve for
    money quantity
    (affects interest rates)
  4. d gross domestic product measured in current dollars
  5. e both high inflation and high unemployment

5 Multiple choice questions

  1. amount of disposable income left after personal spending
  2. Social welfare isn't measured
    Nonmarket activites not counted
    does not reflect losses or societal ills
    don't measure pollution
    distributive policies
    underground economy
  3. y/n?
  4. promissory notes issued by firms when they borrow money
  5. sales taxes
    customs duties
    license fees

5 True/False questions

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


  2. proprietor's incomethe total income of households


  3. aggregate outputtotal quantity of goods and services produced in an economy in a given period


  4. Expenditure approach formulaGDP=C+I+G+(EX-IM)


  5. transfer paymentsCash payments made by the gov to people who don't supply good, services, or labor in exchange.


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