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macroeconomics #2

QuestionAnswer
Gdp is the total market value of? All final goods and services used in an economy in a give year.
What is the largest component of GDP? Personal Consomption
What are net exports? Exports less imports
When gross private domestic investment exceeds depreciation? Investement is positive.
GDP is equal to? C + lg + G +Xn
IN an economy experiencing declining production capacity? Net private domestic investment is negative.
What is the consumption of fixed capital? Depriciation
How does GDP differ fron NDP? Gross investment is used in calculating gross domestic products, Net investment is used in calculating net domestic products.
DIsposable income differs from personal income by? Personal Taxes.
Nominal differ from real GDP? Real GDP is adjusted for changes in the price level.
Gdp excludes most non market transactions therefore GDP tends to? Underestimated the amount of production in the economy.
WHich would be the best economic measure to compare standards of living among nations overtime? Real income per capita
If a nations real GDP is growing by 3 percent per year. Its real domestic output will double in approximately how many years? 23 yrs
The reocurring ups and downs in the level of economic activity extending over several years is a discription of? the bussiness cycle
A recession is a decline in ? The GDP that last 6 months or longer.
In calculating the unemployment rate discourage workers who are not actively seeking employment are? excluded
Kevin has lost his job in an automobile plant because of the use of robots for welding on the assembly line. Kevin plans to go to school to learn how to repair microcomputers. The type of unemployment kevin is faced with is? Structural
The best example of a frictional unemployed worker is one who? is in the process of voluntarily switching jobs.
A headline reads "Economy still in recession"
Created by: zuzelbarrera
 

 



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