Week 4 TDA 2 terms and concepts to use

Week 4 TDA 2 terms and concepts to use - Week 4 TDA 2 1....

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Week 4 TDA 2 1. The Circular Flow model, see page 39 of the text a. How CELL works in the Resource Market flow b. Who are the 4 participants in the economy: Consumer, Business, Government, Foreign Sector c. What each of these 4 participants do: earn income, buy goods and services, save or dissave and all but government pay taxes d. How does the Money Flow work? 2. Define GDP 3. What is included, counted, in GDP? 4. What is not counted in GDP? 5. What is REAL GDP compared to Nominal GDP? a. How do we find REAL GDP? 6. List, define, and relate the Income Measurement components of GDP to CELL: a. Wages, Rent, Interest, Profits b. National Income c. Indirect Business tax d. Net Domestic Product e. Depreciation f. GDP 7. List, define and relate the Expenditure components of GDP: a. Consumption i. How does this relate to Personal Income, Government Income, Taxes? b. Gross Private Domestic Investment i. How does this relate to Savings? ii.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 07/31/2011 for the course ECON 545 taught by Professor Hodges during the Spring '11 term at Keller Graduate School of Management.

Page1 / 2

Week 4 TDA 2 terms and concepts to use - Week 4 TDA 2 1....

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online