Chapter 13 Test Review Round 2

Count Me In!

1

What two requirements must be met in order for a product or service to be included in the calculation of GDP?

1) New

2) In Final Form

We Demand Action!

1

How do economists label the x axis when graphing an aggregate demand curve?

RDO (Real Domestic Output)

Sign, Sign, Everywhere A Sign...

1

Name the 3 types of economic indicators.

Leading

Coincident

Lagging

Rockin' Rollercoaster

1

Name 3 of the 4 categories of factors that affect fluctuations in the business cycle.

Business

Government

External

Psychological

Hair Bands, Cabbage Patch Kids, and Back to the Future

1

                                  *500*

Identify one of the years used in the base year calculation of the CPI.

1982

1983

1984