Measuring Economic
Activity
Activity
what is Economic Growth
what is the steady increase in the production of goods and services in an economic system
what is Personal Income
what is the salaries and wages as well as investment incomes and government payments to individuals
what is inflation
what IS AN INCREASE IN THE GENERAL LEVEL OF PRICES.
If the GDP increases from year-to-year, this signals that
A)economy is the same
B)economy is growing and healthy.
C)economy is lowering and unhealthy.
A) the economy is growing and healthy.
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What is Chat GPT
how is Output per person is calculated
A) dividing GDP by the total population.
B)Multiplying GDP by the total population.
what is by dividing GDP by the total population.
What is Recession
A)period in which demand begins to grow
B) period in which demand begins to decrease
what is a period in which demand begins to decrease
is mild inflation good or bad
what is good
Improvement in _________________________ result in more output per worker.
what is capital resources, worker training and management
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what is Gross Domestic Product
what is the total value of all final goods and
services produced in a country during one year
What is Business Cycles
what is are the recurring ups and downs of GDP
what is consumer price index
A)a measure of nothing
B)a measure of inflation
C)a measure of deflation
what is a measure of inflation.
Prosperity is at the
A)peak of the business cyle
B)bottom of the business cyle
what is peak of the business cyle
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When is May 5th
What is one Components of GDP
Consumer spending for food, clothing,
housing and other goods and services
Business spending for buildings,
equipment and inventory items
Government spending to pay
employees and to buy supplies and
other goods and services
The exports of a country less the
imports into the country
what is Depression
what is a long period of high unemployment, weak consumer sales, and business failures
what is a Prime Rate
what is the rate banks make available to their best customers—like large corporations
A recession occurs where GDP growth slows for
A)one or more successive quarters
B)three or more successive quarters
C)two or more successive quarters
two or more successive quarters
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Who is Steve Jobs
An increase in GDP per capita means
A)economy is going down
B)economy is growing
C)economy is the same
what is economy is growing
what is Prosperity
what is a period in which most people who want to work are working.
what is Mortgage Rate
what is the amount individuals pay to borrow for the purchase of a new home
Inflation is most harmful to
what is people living on fixed incomes
Who is older
A)Harrison
B)Will
Woh is Harrison By 8 seconds