問題一覧
1
It is commonly defined as the total value value of goods and services produce annually in a country
national income
2
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
3
In this method, the value of all goods and services produced in different industries during the year is added up
the product method
4
The product method is also known as
value added approach to GDP, GDP at factor cost by industry of origin
5
The people of a country who produced GDP during a year receipts income from their work
the income method
6
This method focuses on goods and services produced with the country during one year
the expenditure method
7
GDP by expenditure methods include
consumer expenditure, investment, government expenditure, export of goods and services by the people of the country less imports
8
The three approaches used in GDP calculation
the expenditure approach, the product approach, the income approach
9
Calculate spending by the different groups that participate in economy
the expenditure approach
10
It estimates the total value of economic output and deduct the cost of intermediate goods that are consumed in the process
the product approach
11
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
12
Types of gross domestic product
nominal GDP, real GDP, GDP growth rate, GDP per capita
13
What are the components of GDP?
personal consumption, gross private domestic investment, government purchases, net export
14
What are the two types of variables?
stocks, flows
15
It’s a variable that is independent of time
stocks
16
It is a variable that is measured over a specific period of time
flows
17
it Is the purchases by household of groceries healthcare services, clothing, and automobiles all our accounted us
personal consumption
18
The production of consumer goods and services accounts for about of ___total output
70%
19
Is the value of all goods produced during a period for use in the production of other goods and service?
gross domestic product investment
20
Private investments accounts for about ___ GDP
15%
21
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
22
The government purchases make up about__ of GDP
20%
23
Sales of goods and services to buyers in the rest of the world during a particular time represents its
net exports
24
Which services produced for export represents roughly ___ of GDP
14%
25
GDP evaluated at current market prices
nominal GDP
26
GDP inflation adjusted
real GDP
27
It compares one quarter of a conscious GDP to the previous quarter in order to measure how fast economic is growing
GDP growth rate
28
is a measurement of the GDP per person in a countries population
GDP per capita
29
What is the major measure of economic growth?
GDP
30
Which measure of the economy is better GDP or GNP
GDP
31
What are the top three indicators of economic growth?
GDP, consumer price index, monthly unemployment report
32
For determinants of productivity in economics
physical capital, human capital, natural resources, technological knowledge