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


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

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

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

A prolonged decline in the general price level of goods and services is called:
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

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

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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