Economics unit 5

GDP known by the amount of money spent by consumers yearly is

• Exports

• Consumption

• Investments

GDP is the measure of

• all goods produced and all exports

• the value of all intermediate goods and services

• the value of all final goods and services produced in a country annually

What is the desired unemployment rate inthe United States?

• 4-6%

• 0-3%

• 5-8%

What is a general increase in in prices called?

• Quantity theory

• Consumers price Index

• Inflation

An example of a durable good would be

• Food

• A car

• Toilet paper

GDP equal what

• G + X + W + Q

• C + I + M + L

• C + I + G + X

A period of expansion followed by a period of contraction is

• the business cycle

• GDP

• Life cycle

When demand for goods and services exceed the supply and inflation occurs

• Cost -push theory

• Inflation theory

• Demand-pull theory

Nominal GDP is

• GDP adjsted for inflation

• GDP to compare the nations economy from year to year

• GDP not adjusted for inflation

Which of these is NOT part of GDP?

• Consumption

• Innovation

• Exports