CHP 7 formulas Word Scramble
|
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
| Question | Answer |
| Expenditures/output approach: | GDP = Consumption expenditures by households + Investment expenditures by Businesses + Gov purchases of goods and services + Expenditures by foreigners |
| Income/allocations approach:(national income) | GDP = Wages + Rents + Interest + Profits(Proprietors Income + Corporate Profit) + Taxes on production/imports + Statistical Adjustments - Net foreign factor income + Consumption of fixed capital |
| Net Export: | Xn = Exports(X) - Imports(M) |
| Personal Consumption Expenditures: | C = Durables gods + Nondurable goods + services |
| Gross Private Domestic Investment: | Ig = Final purchases of capital goods + Residential construction + expenditures on the R&D of new tech + Money spent on creation of art/music/etc. + Changes in inventories |
| Government Purchases: | G = gov expenditures on public services + public owned capital + gov R&D |
| Imports: | M |
| Exports: | X |
| GDP: | C + Ig + G + Xn |
| Net Rent | Gross rental income - depreciation of the rental property |
| Profit | Proprietor's income + Corporate Profits |
| Corporate Profits | Corporate Income taxes + Dividends + Undistributed corporate profits |
| National Income to GDP | National Income - Net foreign factor income + Consumption of fixed capital + Statistical discrepancy |
| Net foreign factor income(Net foreign Income) | Income earned by Americans overseas - Income earned by foreigners in the US |
| Statistical Discrepancy | Since recording income is hard to be precise. |
| Net Domestic Product | NDP = GDP - Consumption of fixed capital (depreciation) |
| National Income | NDP - Statistical Discrepancy + Net foreign factor income |
| Personal Income | National Income - Taxes on production/imports - Corporate income taxes - Social Security Contributions - Undistributed Corporate profits + Transfer payments |
| Disposable Income | DI = consumption(C) + Saving(S) or Personal Income - Personal Taxes |
| GDP to DI | GDP to NDP to NI to PI to DI |
| Price Index in given year | (price of market basket in specific year / price of same market basket in base year) x 100 |
| Real GDP | Nominal GDP / Price index(in hundredths) |
| Price Index(in hundredths) | nominal GDP / real GDP |
| Net private domestic investment | NPDI = GPDI - depreciation(consumption of fixed capital goods) |
| Price Index(without GDP) | price level of a year/x = price level of base year/100 |
Created by:
MathMatt
Popular Economics sets