Economics: Today and Tomorrow © 2012

Chapter 13: Measuring the Economy's Performance

Measuring the Economy's Performance

1
Which of the following is excluded from GDP?
A)new submarine
B)new refrigerator
C)printers for home computers
D)hard drives for new computers
2
Net domestic product (NDP) is a better measure of the economy's productivity than GDP because it accounts for _____.
A)unpaid work
B)depreciation
C)quality of goods
D)government spending
3
Total income that individuals receive before personal taxes are paid is called _____.
A)net domestic product
B)national income
C)personal income
D)gross domestic product
4
The consumer price index compares _____.
A)quality of goods
B)income levels
C)price levels
D)quantity of goods
5
Which of the following choices is defined as a representative group of goods and services used to compile the consumer price index?
A)Inflation
B)Purchasing power
C)Consumer price index
D)Market basket
6
With inflation, the purchasing power of money ______.
A)goes up
B)is not affected
C)is non-existent
D)goes down
7
Which of the following is defined as the total quantity of goods and services in the entire economy that all citizens will want to purchase at any single time?
A)Aggregate supply
B)Aggregate demand
C)Aggregate demand curve
D)Aggregate supply curve
8
Which of the following describes the United States economy in the 1990s?
A)Small ups and downs
B)Recurring recessions
C)Prolonged growth
D)Serious downturn
9
The availability of raw materials is an example of which of the following forces affecting the economy?
A)Government activity
B)Business investment
C)External factors
D)Psychological factors
10
Indicators that usually change at the same time as changes in overall business activity are called _____.
A)lagging indicators
B)economic indicators
C)leading indicators
D)coincident indicators
Glencoe Online Learning CenterSocial Studies HomeProduct InfoSite MapContact Us

The McGraw-Hill CompaniesGlencoe

Please read our Terms of Use and Privacy Notice before you explore our Web site. To report a technical problem with this Web site, please contact the Web Producer.