Econ- Chapter 13, Section 1 And 2 Question Preview (ID: 60292)


Inflation GDP. TEACHERS: click here for quick copy question ID numbers.

The GDP price deflator removes what from the GDP so that the overall economy in one year can be compared to another year:
a) Inflation
b) Deflation
c) GDP
d) Preflation

Which of the following is NOT a way that the government measures inflation:
a) CPI
b) PPI
c) GDP
d) GOP

A prolonged decline in the general price level of goods and services is called:
a) Inflation
b) Deflation
c) GDP
d) Preflation

Income remaining for people to spend or save after all taxes have been paid is called:
a) Disposable personal income
b) Undisposable personal income
c) Personal income
d) National income

A prolonged rise in the general price level of final goods and services is called:
a) Inflation
b) Deflation
c) GDP
d) Preflation

The real goods and services that money can buy is called:
a) Relegated power
b) Consumer sovereignty
c) Purchasing power
d) Consumer power

The total dollar value of all final goods and services produced in the nation during a single year is the:
a) GDP
b) NDP
c) GPD
d) HCS

Which of the following is NOT a factor when calculating the gross domestic product:
a) Consumers
b) Government
c) Investment
d) Stocks

Which of the following is NOT an example of a government transfer payment:
a) Unemployment Compensation
b) Bank Transfers
c) Social Security
d) Food stamps

Measure of the average of prices of a specified set of goods and services purchased by typical consumers:
a) Market basket
b) Producer price index
c) Consumer price index
d) Base year

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