Exam 5: Introduction to Macroeconomics

The national income and product accounts have been used to track the United States' economic performance since the Civil War.

The event that stimulated the U.S. government's commitment to tracking the economy's health through a national income accounting system was the:

Most frozen foods are considered durable goods.

Over the past 150 years, the U.S. economy has endured a recession on average about every:

Which of the following is NOT an example of gross private domestic investment?

The economy is least likely to be heading into a recession when the National Activity Index equals:

The value of cars that the Ford Motor Company produces in a German plant:

The economy is not likely to be heading into a recession when the National Activity Index equals -0.95.

If a country's GDP per capita is $86,000, then a typical married couple earns $172,000 per year.

Macroeconomics was developed to explain:

Expenditures by individuals for durable goods, nondurable goods, and services are known as:

When a recession gets under way:

Suppose the National Bureau of Economic Research announces that the economy has been in a recession for the past year. What effect might this announcement have on the economy?

The Integrated Environmental and Economic Satellite Accounts are intended to take into account the environmental benefits or harmful effects of economic activity.

Disposable personal income can be either _____ or _____.

The National Bureau of Economic Research is a government agency.

Gross private domestic investment is about 20% of GDP.

Personal consumption expenditures are goods and services purchased by residents of the United States.

Gross private domestic investment is an important determinant of how severe recessions will be mitigated.

What is an example of a final good?