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5 Written questions

5 Matching questions

  1. national income and product accounts
  2. Aggregate Behavior
  3. nominal GDP
  4. personal saving
  5. aggregate output
  1. a total quantity of goods and services produced in an economy in a given period
  2. b amount of disposable income left after personal spending
  3. c gross domestic product measured in current dollars
  4. d data collected and published by the government describing the various components of national income and output in the economy
  5. e the behavior of all households and firms together

5 Multiple choice questions

  1. from trough to peak with increased output&employment
  2. the market value of all final goods and services produced within a given period of time by factors of production located within a country.
  3. personal income-personal income taxes
  4. Promissory notes issued by the federal government when it borrows money
  5. wages

5 True/False questions

  1. weighttotal 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


  2. in personal saving rate hight...households spending cautiously


  3. compensation of employeeswages
    various supplements


  4. do you know how to physically calculate (real GDP)expenditures=income=output


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


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