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QUIZ CH 12 A Flashcards | StudBud

Explore/QUIZ CH 12 A

QUIZ CH 12 A

10 terms·StudBud Administration·494 plays

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Questions 10

Answers

1
What is real GDP
Production of goods
Adjusted for Inflation
Demand for goods
NOT Adjusted for Inflation
2
What is the defenition of Aggregated Supply
The total amount of goods demanded
The total amount of goods and services produced in the nation
Amount of products made within a nation
The number of services provided
3
What is the defenition of GDP
Gross Domestic Product
Gross Defined Product
Growing Demanded Product
Growing Developed Products
4
What does GDP include
The $ Value of all Goods and Services produced in a country in a given year
Non Production Transactions
Non Market Transactions
Intermediate Goods
5
What does GNP stand for?
Gross National Price
Gross Nominal Product
Gross National Party
Gross National Product
6
The "Peak" in the Business Cycle is?
Lowest Point in Contraction
Height of Economic Expansion
Economic Decline
Fluctuations in the market
7
A "Recession is?
Economic Incline
A Trough
Prolonged Economic Decline lasting at least 2 Quarters
When GDP Drops
8
What is the Formula for GDP
C+I+G+Xn
P+T+Xn+G
X+T+Z+L+n
C+T+X+Gn
9
What is Nominal GDP
Adjusted for Inflation
American goods made abroad
Amount of goods produced in America
NOT adjusted for inflation
10
What is the Defenition of Aggregated Demand
The number of demands made in the nation
All goods and services within a nation
The demand for valuable products in the nation
The total amount of goods and services demanded in a nation