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5 Written questions

5 Matching questions

  1. stagflation
  2. proprietor's income
  3. indirect taxes minus subsides
  4. income approach
  5. gnp
  1. a sales taxes
    customs duties
    license fees
  2. b income of unincorporated businesses
  3. c 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
  4. d measures income recieved by all factors of production in producing final goods and services
  5. e both high inflation and high unemployment

5 Multiple choice questions

  1. GDP=C+I+G+(EX-IM)
  2. households spending cautiously
  3. Federal Reserve for
    money quantity
    (affects interest rates)
  4. data collected and published by the government describing the various components of national income and output in the economy
  5. income of government enterprises

5 True/False questions

  1. statistical discrepancyaffects:
    gov spending


  2. If personal saving rate low...households spending cautiously


  3. Sticky pricesprices that do not always adjust rapidly to maintain equality between quantity supplied and quantity demanded


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


  5. Aggregate Behaviortotal quantity of goods and services produced in an economy in a given period