GPD Flashcards
1
Q
Gross production and gross income examples
A
Consumption by households, investment by business, government purchases, expenditures by foreigners
Rents, interests, profits, statistical adjuvants and wages
2
Q
What is the most GDP spent on
A
Consumption , government, investment, foreign expenditures
3
Q
IG
A
Gross private domestic investment 3: business spending on real capital (tools machinery plants) New construction Unsold inventory(change in investment)
4
Q
Net investment
A
Change in a nations capital stock in one year
5
Q
Negative depreciation = what
A
Net investment
6
Q
Net exports equals what
A
Exports - imports
7
Q
Financial transactions include
A
Stock market
Public transfer (welfare unemployment social security)
Private transfer
8
Q
Underground economy
A
Unreported legal business activity
Illegal business activity
9
Q
Expenditure Approach/ income approach
A
C+IG+G+XN gross domesticated production
Gross domesticated income [ripsaw]
