5 Written questions
5 Matching questions
- indirect taxes minus subsides
- compensation of employees
- income approach
- net investment
- personal saving rate
- a the percentage of disposable personal income that's saved.
- b sales taxes
- c gross investment-depreciation
- d wages
- e measures income recieved by all factors of production in producing final goods and services
5 Multiple choice questions
- Cash payments made by the gov to people who don't supply good, services, or labor in exchange.
- portion of a firm's profits that the firm pays out each period to its shareholders
- year chosen for the weights in a fixed-weight procedure
- households are spending a large amount relative to income
- the total income earned by the factors of production owned by a country's citizens
5 True/False questions
Expenditure approach formula → total amount spent on all final goods and services during a given period
Can you re-create the circular flow diagram from scratch? → y/n?
GDP → 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
GNI (gross national income) → the total income earned by the factors of production owned by a country's citizens
3 things that equal each other → Determinants of total national income.
Aggregates of consumption and investment
Overall level of prices