GDP flashcards

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what is a nation's gross domestic product (GDP) it is the dollar value of the total output produced within the borders of the nation
How can a nation's gross domestic product (GDP) can be calculated C + Ig + G + Xn
what is the GDP if the total market value of all final goods and services produced in a partiular country in 2004 is$500 billion and the total market value of final goods and services sold is $450 billion GDP IN 2004 IS $500 BILLION
Gross domestic product (GDP) measures and reports output in _____ dollars
How can national income accountants avoid multiple counting by only counting final goods
If we summed the dollar value of all market transactions in the economy we would get we would get a sum substantially larger than the GDP
If intermediate goods and services were included in GDP, the GDP would be ______ overstated
GDP can be calculated by summing investment, government purchases, consumption, and net exports
How does GDP differs from NDP gross investment is used in calculating GDP and net investment is used in calculating NDP
If depreciation exceeds gross investment the economy's stock of capital is _______ shrinking
If depreciation (consumption of fixed capital) exceeds domestic investment, we can conclude that net investment is ______ negative
what does GDP exclude The market value of unpaid work in the home
what is nominal GDP the sum of all monetary transactions involving final goods and services that occur in the economy in a year
what is real GDP GDP data that have been adjusted for changes in the price level
what does real GDP measure It measures the base year output at current prices
Real GDP and nominal GDP differ because the real GDP has been adjusted for changes in the price level
Real GDP per capita is found by dividing real GDP by population
______ best measures improvements in the standard of living of a nation The growth of real GDP per capita
What will happen to the real GDP per capita If a nation's real GDP increases from 100 billion to 106 billion and its population jumps from 200 million to 212 million real GDP per capita will remain constant
What can cause a nation's real GDP per capita to rise during a year real GDP must increase more rapidly than population
The number of years required for real GDP to double can be found by dividing 70 by the annual growth rate

what is a nation's gross domestic product (GDP)

How can a nation's gross domestic product (GDP) can be calculated

what is the GDP if the total market value of all final goods and services produced in a partiular country in 2004 is$500 billion and the total market value of final goods and services sold is $450 billion

Gross domestic product (GDP) measures and reports output in _____

How can national income accountants avoid multiple counting

If we summed the dollar value of all market transactions in the economy we would get

If intermediate goods and services were included in GDP, the GDP would be ______

GDP can be calculated by summing

How does GDP differs from NDP

If depreciation exceeds gross investment the economy's stock of capital is _______

If depreciation (consumption of fixed capital) exceeds domestic investment, we can conclude that net investment is ______

what does GDP exclude

what is nominal GDP

what is real GDP

what does real GDP measure

Real GDP and nominal GDP differ because the real GDP

Real GDP per capita is found by

______ best measures improvements in the standard of living of a nation

What will happen to the real GDP per capita If a nation's real GDP increases from 100 billion to 106 billion and its population jumps from 200 million to 212 million

What can cause a nation's real GDP per capita to rise during a year

The number of years required for real GDP to double can be found by

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