5 Written questions
5 Matching questions
- nominal GDP
- fiscal policy
- Can you re-create the circular flow diagram from scratch?
- personal saving
- a y/n?
- b affects:
- c amount of disposable income left after personal spending
- d importance attached to an item within a group of items
- e gross domestic product measured in current dollars
5 Multiple choice questions
- year chosen for the weights in a fixed-weight procedure
- Determinants of total national income.
Aggregates of consumption and investment
Overall level of prices
- uses weights from a given base year
5 True/False questions
national income and product accounts → the total income earned by the factors of production owned by a country's citizens
net investment → goods that firms produce now but intend to sell later.
dividends → portion of a firm's profits that the firm pays out each period to its shareholders
in personal saving rate hight... → households are spending a large amount relative to income
gnp → 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