macroeconomics ch 7 GDP & Real GDP
Help!
|
|
||||
|---|---|---|---|---|---|
| GDP (Gross Domestic Product) | show 🗑
|
||||
| ways to compute GDP | show 🗑
|
||||
| show | GDP = C+I+G+Nx (open economy) w/o Nx (closed economy); C = consumers (market basket), I = investments (business spending on businesses ie. labor, construction, etc), G = gov't (spending, not transfers), Nx = (exports - imports)
🗑
|
||||
| show | non-market goods (household prod), underground activities, sales of used goods themselves, intermediate goods, financial trans (trading stocks/bonds), gov't transfer payments (ss cks, vet benefits), leisure (vol time off)
🗑
|
||||
| final goods | show 🗑
|
||||
| intermediate good | show 🗑
|
||||
| double counting | show 🗑
|
||||
| transfer payment | show 🗑
|
||||
| show | the sum of spending on durable goods, nondurable goods, & services
🗑
|
||||
| show | the sum of all purchases of newly produced capital goods, changes in business inventories, & purchases of new residential housing
🗑
|
||||
| show | changes in the stock of unsold goods
🗑
|
||||
| fixed investments | show 🗑
|
||||
| government purchases | show 🗑
|
||||
| government transfer payments | show 🗑
|
||||
| show | total domestic (US) spending on foreign goods
🗑
|
||||
| exports | show 🗑
|
||||
| show | exports - imports
🗑
|
||||
| show | total income earned by US citizens & businesses, no matter where they reside or are located
🗑
|
||||
| show | the sum of the payments to resources (land, labor, capital & entrepreneurship) = compensation to employees + proprietor's income + corp profits + rental income of persons + net interest
🗑
|
||||
| capital consumption allowance (depreciation) | show 🗑
|
||||
| net domestic product (NDP) | show 🗑
|
||||
| show | the amt of income that indiv actually receive; = the national income - undistributed corp profits, social ins taxes, & corp profits taxes, + transfer pmts
🗑
|
||||
| show | the portion of personal income that can be used for consumption or saving; = to personal income - personal taxes (esp income tax)
🗑
|
||||
| Real GDP | show 🗑
|
||||
| show | increases in Real GDP
🗑
|
||||
| 3 reasons for true economic growth | show 🗑
|
||||
| show | a country's GDP / the population in the same country
🗑
|
||||
| GDP & Bads | show 🗑
|
||||
| durable good | show 🗑
|
Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Created by:
katt61
Popular Economics sets