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