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5 Written questions

5 Matching questions

  1. personal income
  2. 2 limits of GDP concept
  3. shares of stocks
  4. what is income
  5. 3 things macroeconomics focus on
  1. a the total income of households
  2. b Social welfare isn't measured
    Nonmarket activites not counted
    does not reflect losses or societal ills
    don't measure pollution
    distributive policies
    underground economy
  3. c wages
  4. d financial instruments that give to the owner a share in the firm's ownership and therefore the right to share in the firm's profits
  5. e Determinants of total national income.
    Aggregates of consumption and investment
    Overall level of prices

5 Multiple choice questions

  1. data collected and published by the government describing the various components of national income and output in the economy
  2. measures income recieved by all factors of production in producing final goods and services
  3. goods that firms produce now but intend to sell later.
  4. personal income-personal income taxes
  5. affects:
    gov spending

5 True/False questions

  1. do you know how to physically calculate (real GDP)y/n?


  2. nominal GDPgross national product-depreciation


  3. weightimportance attached to an item within a group of items


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


  5. NNPgross national product-depreciation


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