Macroeconomics Word Scramble
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| Question | Answer |
| What does GDP stand for? | Gross Domestic Product |
| What is the market value of all final goods and services produced within a country in a given period of time | GDP |
| How do you calculate GDP? | Y=C+I+G+NX |
| What is spending by households on goods and services, with the exception of purchases of new housing | Consumption |
| What is spending on capital equipment, inventories, and structures, including household purchases of new housing | Investments |
| What is spending on goods and services by local, state, and federal government | Government Purchases |
| Spending on domestically produced goods by foreigners (exports) minus spending on foreign goods by domestic residents (imports) | Net Exports |
| What is the production of goods and services valued at current prices | Nominal GDP |
| What is the production of goods and services values at constant prices? | Real GDP |
| What is a measure of the price level calculated as the ratio of nominal GDP to real GDP times 100? | GDP deflator |
| How do you calculate inflation form the GDP deflator? | [(Deflator Y2 - Deflator Y1) / Defltor Y1] |
Created by:
beckster3000
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