MACRO CH 7 example #70829

The National Income & Product Accounts help economists and policymakers to

The agency responsible for compiling the National Income Product Accounts for the U.S. economy is the

the system that measure the economy's overall performance is formally known as

a nations gross domestic product (GDP)

national income accountants can avoid multiple counting by

what kind of transaction would be included in GDP?

the concept of net domestic investment refers to

Econ A: gross investments = depreciation Econ B: depreciation exceeds gross investment Econ C: gross investment exceeds depreciation based on this info., positive net investment is occurring in

GDP is

GDP can be calculated by summing

in national income accounting, the consumption category of expenditures includes purchases of

in national income accounting, the consumption category of expenditures includes purchases of

net exports are

what is not an economic investment?

which of the following do national income accountants consider to be investment?

suppose that inventories were $40 billion in 2015 and $50 billion in 2016. In 2016, national income accountants would...

Econ A: gross investments = depreciation Econ B: depreciation exceeds gross investment Econ C: gross investment exceeds depreciation Other things equal, the information suggests that the production capacity in economy...

government purchases include government spending on

transfer payments are

if depreciation (consumption of a fixed capital good) exceeds gross domestic investment, we can conclude that...

when an economy's production capacity is expanding,

value added refers to

assume that a manufacturer of stereo speakers purchases $40 worth of components for each speaker, the completed speaker sells for $70, the value added by the manufacturer for each speaker is...

final goods and services refers to

if intermediate goods and services were included in GDP,

what is an example of a final good or service?

Tom grows fruits & veggies for home consumption. this activity is

the ZZZ corp. issued $25 million in new common stock in 2016. it used $18 million of proceeds to replace equipment in its factory and $7 million to repay bank loans, as a result investment...

national income measures

the amount of after was income received by households is measured by

what is the difference between national income and personal income?

nominal GDP is

the fact that nominal GDP has risen faster than real GDP

a large underground economy results in an

the GDP tends to

GDP excludes

real GDP refers to

nominal GDP is adjusted for price changes through the use of

a price index is