National Income Accounting - Macroeconomics AS Quiz

Questions on National Income Accounting 

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  • Created by: Jade
  • Created on: 13-09-11 19:16
What does GDP stand for ?
Gross Domestic Product
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What is GDP?
GDP is the total output produced by the economy, measured in money terms.
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How can GDP be measured?
Income method, Output method, Expenditure method
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What is the output method?
The output method is a measure of the value of what firms produce
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What is the expenditure method?
The expenditure method is the amount that people spend
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What place are the UK at in terms of GDP in 2010?
6th
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What is an example of a externality?
Pollution is not taken into account
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What does PPP stand for?
PPP stands for Purchasing Power Parity
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What does PPP mean?
How far your money goes
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What is GDP per capita?
Average GDP per person
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What is the Human Development Index?
A way of measuring living standards
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Name 3 Withdrawals (W) ?
(S) Savings, (M) Imports, (T) Taxation
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Name 3 Injections (J)?
Exports (X), Investment (I), Government Spending (G)
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Other cards in this set

Card 2

Front

What is GDP?

Back

GDP is the total output produced by the economy, measured in money terms.

Card 3

Front

How can GDP be measured?

Back

Preview of the front of card 3

Card 4

Front

What is the output method?

Back

Preview of the front of card 4

Card 5

Front

What is the expenditure method?

Back

Preview of the front of card 5
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