
Chapter 12 Vocab Flashcard
Flashcard
•
Social Studies
•
KG
•
Practice Problem
•
Hard
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1.
FLASHCARD QUESTION
Front
Branch of economics dealing with the government as a whole
Back
Macroeconomics
2.
FLASHCARD QUESTION
Front
National output
Back
Gross Domestic Product (GDP)
3.
FLASHCARD QUESTION
Front
Goods used to make other products already counted in GDP
Back
Intermediate products
4.
FLASHCARD QUESTION
Front
Sales of used goods
Back
Secondhand sales
5.
FLASHCARD QUESTION
Front
Activities that do not generate market expenditures
Back
Non-market transactions
6.
FLASHCARD QUESTION
Front
Economic activities not reported for legal or tax purposes
Back
Underground Economy
7.
FLASHCARD QUESTION
Front
Serves as the basis of comparison for all other years.
Back
Base year
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