Section 3.1 Part 3

Question 1

If money is loaned to a business, that is what part of the income approach?

Accepted Answer

Interest Income

Question 2

After a market peak, we can expect what part of the business cycle?

Accepted Answer

Recession

Question 3

After a market trough, we can expect what part of the business cycle?

Accepted Answer

Recovery

Question 4

All of the parts of the income approach are called what?

Accepted Answer

Factor Payments

Question 5

The Income Approach is made of four parts. Which of the following is not one?

Accepted Answer

Net Imports

Question 6

While at a GDP peak, we can expect which of the following?

Accepted Answer

Inflation to be high

Question 7

Which type of GDP is measured in current prices?

Accepted Answer

Nominal

Question 8

Purchases of final goods by private individuals are which part of the income approach?

Accepted Answer

Labor Income

Question 9

Entrepreneurship earns which of the following parts of the Income Approach?

Accepted Answer

Profit

Question 10

What can we assume happened if a country produces no more, but GDP increases?

Accepted Answer

Inflation

Question 11

Earning income from property is which part of the income approach?

Accepted Answer

Rental Income

Question 12

Which type of GDP adjusts for inflation?

Accepted Answer

Real

Questions 12