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5 Written questions

5 Matching questions

  1. base year
  2. fixed-weight procedure
  3. income approach
  4. national income and product accounts
  5. contraction/slump
  1. a year chosen for the weights in a fixed-weight procedure
  2. b uses weights from a given base year
  3. c data collected and published by the government describing the various components of national income and output in the economy
  4. d peak to trough during which employment and output fall
  5. e measures income recieved by all factors of production in producing final goods and services

5 Multiple choice questions

  1. Social welfare isn't measured
    Nonmarket activites not counted
    does not reflect losses or societal ills
    don't measure pollution
    distributive policies
    underground economy
  2. gross national product-depreciation
  3. y/n?
  4. income of government enterprises
  5. 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 True/False questions

  1. proprietor's incomeincome of unincorporated businesses

          

  2. disposable personal income
    after-tax income
    personal income-personal income taxes

          

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

          

  4. capital stock at the end of period is...households are spending a large amount relative to income

          

  5. Relationship between total production and total salesdata collected and published by the government describing the various components of national income and output in the economy