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5 Written questions

5 Matching questions

  1. intermediate products
  2. Net National Product(NNP)
  3. nonmarket transactions
  4. current GDP
  5. real GDP
  1. a gross domestic product measured in current prices unadjusted for inflation
  2. b gross national product minus depreciation charges for wear and tear on capital equipment
  3. c products that are components of other final products included in GDP;tires or radios on a new car
  4. d gross domestic product after adjustments for inflation
  5. e economic activities that do generate expenditures in the market; mowing your own lawn

5 Multiple choice questions

  1. the total income the consumer sector has at its disposal after personal income taxes
  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. the highways,levees, mass transit, communications systems, electricity, water, sewer, and other publicgoods needed to support a population
  4. the total amount of income going to consumers before individual taxes are subtracted
  5. economic activities that are not reported for legal or tax collection purposes; like gambling or smuggling

5 True/False questions

  1. CensusAn official count of all the people living in the United States including their place of residence


  2. secondhand salesthe sales of used goods


  3. macroeconomicsthe study of the economy as a whole, including topics such as inflation, unemployment, and economic growth


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


  5. center of populationthe point where the country would balance if it could be laid flat and everyone weighed the same


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