GDP and Business Cycle.

Front

What is the formula for GDP?

Back

C + I + G + (X-M)

Front

Indianapolis purchases a new fire truck. Where would this show up in GDP formula? (GDP=C+I+G+(X-M))

Back

Government Spending

Front

Costco builds a new store in Noblesville, Indiana. Where would this show up in the GDP formula? (GDP=C+I+G+(X-M))

Back

Investment (Business)

Front

Where would John purchasing a haircut at Sports Clips show up in the GDP formula?

Back

Consumption (Consumer)

Front

The total dollar value of all final goods and services produced within the country’s border in a given year after inflation is taken out of the data.

Back

Real GDP

Front

Why is real GDP more accurate than nominal GDP?

Back

It's adjusted for price changes.

Front

If you graph Real GDP, then you have created...

Back

The Business Cycle

Front

The Lowest point in the business cycle

Back

Trough

Front

Which phase of the Business Cycle includes the economy slowing down?

Back

Recession

Front

Which letter represents the Contractionary (Recession) Phase? Options: A, B, C, D

Back

C