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Macro & Finans 2345t6 > Ch 13 > Flashcards

Ch 13 Flashcards

1
Q

GNP = ?

A

c + I + G + CA

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2
Q

CA= ?

A

EX - IM

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3
Q

National income account = ?

A

National output account

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4
Q

C = ?

A

Consumptions of the final sale by goods by firmas and households

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5
Q

What does C not account for?

A

Consumption does not account for second hand or firm purchases for production.

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6
Q

NNP?

A

Net national product

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7
Q

NNP = ?

A

GNP + depreciation of capital over time

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8
Q

National income = ?

A

GNP - Depreciation + unilateral transfers

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9
Q

GDP ? GDP= ?

A

Gross national product
GDP = GNP - EX and IM

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10
Q

I = ?

A

Investment

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11
Q

Y ?

A

National income identity

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12
Q

Y = ?

A

C + I + G+ EX - IM

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13
Q

Selling = ?

A

Export

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14
Q

Buying = ?

A

Import

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15
Q

Current account (CA) deficit

A

EX < IM

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16
Q

Current account (CA) surplus

A

EX > IM

17
Q

When there is a CA deficit what will the country do? and what does this lead to?

A

The country will borrow which increases its debts

18
Q

S ?

A

National savings

19
Q

S = ?

A

Y - C - G

20
Q

S = ? in a closed economy

A

I

21
Q

When the country has a CA surpuls, what does this mean?

A

The country have savings which a forigen country can borrow. This deal is an investment for the country.

22
Q

The balance of payments accounts what?

A

The records of the transactions between forigen and domestic country aka. the CA.

23
Q

What type of transaktion are recorder in what account?

A

Purchase and sales -> financial account
Transfer of wealth -> Capital account

24
Q

Financial account balance = ?

A

Current account balance + capital account balance

25
Q

FA ?

A

Financial account

26
Q

FA = ?

A

CA + KA

27
Q

KA ?

A

Capital account

28
Q

OSB ?

A

The official settlements balance aka. the balance of payments

29
Q

OSB = ?

A

NFRA - FA

30
Q

Another version/equation of the balace of payments?

A

NX + BPI + BSI + KA = NRFA + OSB

31
Q

NRFA ?

A

Nonreserv financial account

Macro & Finans 2345t6 (6 decks)

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