Unit 4 Test Review

The total dollar value of all final goods and services produced in the country in a given time period

• price stability
• GDP
• inflation
• economic growth

Steady economic growth is measured by

• inflation rate
• unemployment rate
• Real GDP growth rate

Price stability is measured by

• inflation rate
• unemployment rate
• Real GDP growth rate

Full employment is measured by

• inflation rate
• unemployment rate
• Real GDP growth rate

The monetary value of what households spend on final goods and services in the product market in a given time period....

• investment
• net exports
• consumer spending
• government spending

Includes the monetary value of final capital goods businesses purchase in a given time period, the value of inventories produced by businesses, but not yet sold, by the end of the measurement time period, and the value of new home construction produced in the given time period.....

• investment
• net exports
• consumer spending
• government spending

The monetary value of any spending on final goods and services by a local, state, or national government in a given time period....

• investment
• net exports
• consumer spending
• government spending

The monetary value of all final goods and services produced in one country, but sold outside the country’s borders minus the monetary value of all final goods and services produced outside the country’s borders, but sold within the country in a given time period.....

• investment
• net exports
• consumer spending
• government spending

The value of gross domestic product adjusted for inflation (using constant prices from a base year)

• Real GDP
• nominal GDP

The value of the GDP at current prices

• Real GDP
• nominal GDP