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Chapter 10 Mr.C
Question | Answer |
---|---|
What does national income accounting provide information about? | a nations economic activities. |
What does the GDP ignore? | that there are distinctions between transactions that add to well-being and those that diminish it. |
List three things the GDP treats | Crime, Divorce and Natural Disasters |
How do economists compute GDP? | the ouput-ecpenditure model. The model adds the output that is produced by the four sectors of the product market. |
2 examples of leading indicators | 1.) stock market returns. 2.) average hours of manufacturing. |
What are examples of personal comsumption expenditures. | durable goods, nondurable goods, and services. |
What is a Lagged economic indicator | is one that does not change direction until a few quarters after the economy does. |
What is Coincident indicators | something that changes change at approximately the same time as the whole economy |
What does national income accounting provide information about? | a nations economic activities. |
What are the two subcategories that economists divied gross income to. | fixed investments inventory investments |
What does the GDP ignore? | that there are distinctions between transactions that add to well-being and those that diminish it. |
Are government transfer payments included when calculating purchases? | NO!!!!!!!!!!!!!! |
List three things the GDP treats | Crime, Divorce and Natural Disasters |
How do economists measure change in prices over time? | price indexes. |
How do economists compute GDP? | the ouput-ecpenditure model. The model adds the output that is produced by the four sectors of the product market. |
2 examples of leading indicators | 1.) stock market returns. 2.) average hours of manufacturing. |
What are examples of personal comsumption expenditures. | durable goods, nondurable goods, and services. |
What is a Lagged economic indicator | is one that does not change direction until a few quarters after the economy does. |
What is Coincident indicators | something that changes change at approximately the same time as the whole economy |
What are the two subcategories that economists divied gross income to. | fixed investments inventory investments |
Are government transfer payments included when calculating purchases? | NO!!!!!!!!!!!!!! |
How do you calculate national income? | economists will subtract subslides and indirect taxes and indirect taxes from net national product |