Economics Lecture Questions prior to quiz 4

The flashcards below were created by user budelwood on FreezingBlue Flashcards.

What is the best way to measure Economic Growth
A. Real GDP
B. Real per capita GDP
C.Nominal GDP

B.Real per capital GDP is the best way to measure it.
(this multiple choice question has been scrambled)
What would be an example of a Recession
A. a decline in real output longer than two consecutive quarters of a year
B. a decline in real output that is shorter than two consecutive quarters of a year.
C. both a and c are correct.
D. 6 months of declining real output
E. a decline in real output longer than a year

C. both a and c are correct.
(this multiple choice question has been scrambled)
GDP is the sum of four categories of expenditures. GDP = C+I+G+(X-M) what do each of the letters stand for in this equation.
- C=Consumption
- I=Investment-includes inventories
- G=Government spending-valued at cost, excludes transfer payments
- Net exports X=exports M=Imports
Net Domestic Product is found using this equation- C+(I-depreciation)+G+(X-M) what do the variables stand for.
- C=consumption
- I=Investment
- G=government spending
- x=exports
- M=imports

Author

8865

Card Set

Economics Lecture Questions prior to quiz 4

Description

these are questions I came up with from my notes taken during class lectures.

Updated

2010-03-02T23:50:08Z

Show Answers