GDP, Fiscal Policy

Front

Which of the following would NOT be counted in the US's GDP? A used car your grandfather sold you, You buy a new pair of shoes online, A business buys tires., A city government's spending on a new park

Back

A used car your grandfather sold you

Front

All final goods and services that make up GDP can be expressed in the form:

Back

GDP = C + I + G + (X - M).

Front

What is the definition for GDP?

Back

The market value of all final goods and services produced in a nation during a period of time, usually a year.

Front

What is the definition for unemployment?

Back

When people do not have jobs and are actively looking for one.

Front

What type of Unemployment is represented here? Scenario: The economy is on the decline causing businesses to lay off employees

Back

Cyclical

Front

What type of Unemployment is represented here? Scenario: Businesses purchase more technology for the sole purpose of laying off employees

Back

Structural

Front

What type of Unemployment is represented here? Scenario: You are let go from the water park because the Spring and Summer seasons have passed.

Back

Seasonal

Front

Over half of the spending of the _______________ include programs like Medicare, Social Security & Unemployment.

Back

Government Purchases

Front

According to this image, the United States exported 200 billion in goods and services, and imported 150 billion. This category is what part of GDP?

Back

Net Exports/ (x-m)

Front

What does Per Capita Mean?

Back

Per Person