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5 Written questions

5 Matching questions

  1. indirect taxes minus subsides
  2. compensation of employees
  3. income approach
  4. net investment
  5. personal saving rate
  1. a the percentage of disposable personal income that's saved.
  2. b sales taxes
    customs duties
    license fees
  3. c gross investment-depreciation
  4. d wages
    salaries
    various supplements
  5. e measures income recieved by all factors of production in producing final goods and services

5 Multiple choice questions

  1. Cash payments made by the gov to people who don't supply good, services, or labor in exchange.
  2. portion of a firm's profits that the firm pays out each period to its shareholders
  3. year chosen for the weights in a fixed-weight procedure
  4. households are spending a large amount relative to income
  5. the total income earned by the factors of production owned by a country's citizens

5 True/False questions

  1. Expenditure approach formulatotal amount spent on all final goods and services during a given period

          

  2. Can you re-create the circular flow diagram from scratch?y/n?

          

  3. GDPtotal 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

          

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

          

  5. 3 things that equal each otherDeterminants of total national income.
    Aggregates of consumption and investment
    Overall level of prices