ECON DEV FINALS

32問 • 1年前

問題一覧

It is commonly defined as the total value value of goods and services produce annually in a country

national income

He defined national income as “the net output of commodities and services flowing during the year from the countries productive system in the hands of the ultimate consumers”

simon kuznets

In this method, the value of all goods and services produced in different industries during the year is added up

the product method

The product method is also known as

value added approach to GDP, GDP at factor cost by industry of origin

The people of a country who produced GDP during a year receipts income from their work

the income method

This method focuses on goods and services produced with the country during one year

the expenditure method

GDP by expenditure methods include

consumer expenditure, investment, government expenditure, export of goods and services by the people of the country less imports

The three approaches used in GDP calculation

the expenditure approach, the product approach, the income approach

Calculate spending by the different groups that participate in economy

the expenditure approach

It estimates the total value of economic output and deduct the cost of intermediate goods that are consumed in the process

the product approach

Calculates the income earned by all the factors of production in an economy, Including the wages, paid to labor, the rent earned by the writer on capital in the form of interest and corporate profits

the income approach

Types of gross domestic product

nominal GDP, real GDP, GDP growth rate, GDP per capita

What are the components of GDP?

personal consumption, gross private domestic investment, government purchases, net export

What are the two types of variables?

stocks, flows

It’s a variable that is independent of time

stocks

It is a variable that is measured over a specific period of time

flows

it Is the purchases by household of groceries healthcare services, clothing, and automobiles all our accounted us

personal consumption

The production of consumer goods and services accounts for about of ___total output

70%

Is the value of all goods produced during a period for use in the production of other goods and service?

gross domestic product investment

Private investments accounts for about ___ GDP

15%

are the sum of purchases of goods and services from firms by government agencies plus the total value output produced by the government agencies themselves during the time. Period

government purchases

The government purchases make up about__ of GDP

20%

Sales of goods and services to buyers in the rest of the world during a particular time represents its

net exports

Which services produced for export represents roughly ___ of GDP

14%

GDP evaluated at current market prices

nominal GDP

GDP inflation adjusted

real GDP

It compares one quarter of a conscious GDP to the previous quarter in order to measure how fast economic is growing

GDP growth rate

is a measurement of the GDP per person in a countries population

GDP per capita

What is the major measure of economic growth?

GDP

Which measure of the economy is better GDP or GNP

GDP

What are the top three indicators of economic growth?

GDP, consumer price index, monthly unemployment report

For determinants of productivity in economics

physical capital, human capital, natural resources, technological knowledge

Contemporary world

Duane Basada · 71問 · 3年前

Contemporary world

71問 • 3年前

Duane Basada

ARTS APPRECIATION

Duane Basada · 123問 · 2年前

ARTS APPRECIATION

123問 • 2年前

Duane Basada

ECONDEV

Duane Basada · 87問 · 2年前

ECONDEV

87問 • 2年前

Duane Basada

問題一覧

It is commonly defined as the total value value of goods and services produce annually in a country

national income

He defined national income as “the net output of commodities and services flowing during the year from the countries productive system in the hands of the ultimate consumers”

simon kuznets

In this method, the value of all goods and services produced in different industries during the year is added up

the product method

The product method is also known as

value added approach to GDP, GDP at factor cost by industry of origin

The people of a country who produced GDP during a year receipts income from their work

the income method

This method focuses on goods and services produced with the country during one year

the expenditure method

GDP by expenditure methods include

consumer expenditure, investment, government expenditure, export of goods and services by the people of the country less imports

The three approaches used in GDP calculation

the expenditure approach, the product approach, the income approach

Calculate spending by the different groups that participate in economy

the expenditure approach

It estimates the total value of economic output and deduct the cost of intermediate goods that are consumed in the process

the product approach

Calculates the income earned by all the factors of production in an economy, Including the wages, paid to labor, the rent earned by the writer on capital in the form of interest and corporate profits

the income approach

Types of gross domestic product

nominal GDP, real GDP, GDP growth rate, GDP per capita

What are the components of GDP?

personal consumption, gross private domestic investment, government purchases, net export

What are the two types of variables?

stocks, flows

It’s a variable that is independent of time

stocks

It is a variable that is measured over a specific period of time

flows

it Is the purchases by household of groceries healthcare services, clothing, and automobiles all our accounted us

personal consumption

The production of consumer goods and services accounts for about of ___total output

70%

Is the value of all goods produced during a period for use in the production of other goods and service?

gross domestic product investment

Private investments accounts for about ___ GDP

15%

are the sum of purchases of goods and services from firms by government agencies plus the total value output produced by the government agencies themselves during the time. Period

government purchases

The government purchases make up about__ of GDP

20%

Sales of goods and services to buyers in the rest of the world during a particular time represents its

net exports

Which services produced for export represents roughly ___ of GDP

14%

GDP evaluated at current market prices

nominal GDP

GDP inflation adjusted

real GDP

It compares one quarter of a conscious GDP to the previous quarter in order to measure how fast economic is growing

GDP growth rate

is a measurement of the GDP per person in a countries population

GDP per capita

What is the major measure of economic growth?

GDP

Which measure of the economy is better GDP or GNP

GDP

What are the top three indicators of economic growth?

GDP, consumer price index, monthly unemployment report

For determinants of productivity in economics

physical capital, human capital, natural resources, technological knowledge