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5 Written questions

5 Matching questions

  1. nominal GDP
  2. fiscal policy
  3. weight
  4. Can you re-create the circular flow diagram from scratch?
  5. personal saving
  1. a y/n?
  2. b affects:
    gov spending
  3. c amount of disposable income left after personal spending
  4. d importance attached to an item within a group of items
  5. e gross domestic product measured in current dollars

5 Multiple choice questions

  1. y/n?
  2. year chosen for the weights in a fixed-weight procedure
  3. Determinants of total national income.
    Aggregates of consumption and investment
    Overall level of prices
  4. uses weights from a given base year
  5. GDP=C+I+G+(EX-IM)

5 True/False questions

  1. national income and product accountsthe total income earned by the factors of production owned by a country's citizens


  2. net investmentgoods that firms produce now but intend to sell later.


  3. dividendsportion of a firm's profits that the firm pays out each period to its shareholders


  4. in personal saving rate hight...households are spending a large amount relative to income


  5. gnptotal 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