GDP
GDP
GDP
GDP
GDP
100
What is the index that reports on price changes for about 90,000 goods and services.
CPI
100
What is the census is taken every______ years.
10
100
What is the largest sector of the macroeconomy?
consumer sector.
100
the difference between the dollar value of goods sent abroad and goods prchased from abroad.
What is "F" in GDP stand for?
100
extended expansions alternating with brief recessions?
What is the business cycle since WWII has been characterized by?
200
reflects the total market value of all final goods and services produced in an economy in a given year.
What is GDP?
200
A good used only in the production of of other products?
What is an intermediate good?
200
A good directly consumed by individuals.
What is a final good?
200
What is GDP calculates only final goods and services because?
leads to double counting.
200
What is sustained increases in real GDP over time lead to:
economic growth.
300
What % is Consumption expenditure of total GDP.
65%-70%
300
What are clothing, t.v.'s and restaurants examples of in the expeniture apprach of GDP?
consumption expenditure
300
What are cars and refrigerators are an example fo?
durable good.
300
What component of consumption expenditure last for a short period of time?
non durable good.
300
What is consumption expenditure consists of three things name them.
durable, non durable , and service.
400
What is food is an example of durable or non durable good?
non durable
400
What is movie tickets are an example of a non durable good or service.
service
400
What is the fastest growing component of consumption expenditure?
service
400
What is private investment expenditure consist of three parts. Name them.
residential investment, non-residential, and inventories.
400
What is the wear and tear of private investment?
depreciation
500
What is new military equipment and highway construction are examples of?
government expenditure
500
What is Social Security an example of?
transfer of payments.
500
What is Net export?
domestically that are sold abroad, les goods that are produced abroad that are sold domestically
500
What is exports________ and imports______ GDP
What is exports increase and imports decrease GDP.
500
GDP does not include income of U.S. produced in the U.S. or Mexico?
Mexico
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