Macro Module 2 At

Front 1

It shows the economic interactions among the four sectors in the company and the income received and payments made by each

Back 1

Circular flow diagram

Front 2

It is the market value of all final goods and services produced within a country in a given period of time

Back 2

Gross domestic product or gdp

Front 3

True or False

Gdp adds together many different kinds of products into a single measure of the value of economic activity

Back 3

True

Front 4

True or False

Gdp includes all items produced in the economy including items sold illegally in market

Back 4

False

Front 5

True or False

Gdp includes only the value of final goods

Back 5

True

Front 6

True or False

Gdp includes good sa services currently produced

Back 6

True

Front 7

True or False

Gdp measures the value of production that takes place within a specific interval of time

Back 7

True

Front 8

True or false

Gdp only includes tangible goods and not the intangible services

Back 8

False

gdp includes both tangible and intangible services

Front 9

Gdp measures the value of production within the geographic confines of a country

Back 9

True

Front 10

It is a method of computing gdp that measures the amount spent on all final goods during a given period

Back 10

Expenditure approach

Front 11

Formula for expenditure approach in solving GDP

Back 11

GDP= C + I + G + (X-M)

Front 12

Spending by household on consumer goods

Back 12

Personal consumption expenditure

Front 13

Spending by the government

Back 13

Government consumption expenditure

Front 14

Spending by firms and new capital for example plant equipment and inventory

Back 14

Gross domestic capital information

Front 15

Net spending by the rest of the world

EXPORTS MINUS IMPORTS

Back 15

Net exports

Front 16

It is a major component of gdp which consists of expenditures by consumer and goods and services

Back 16

Personal consumption expenditure

Front 17

A good that last relatively long time such as automobiles furniture and household appliances

Back 17

Durable goods

Front 18

Are goods that are used up fairly quickly such as food clothing gasoline etcetera

Back 18

Nondurable goods

Front 19

Refers to those things that we buy that do not involve the production of physical items such as expenditure for doctors lawyers and educational institutions

Back 19

Payment for services

Front 20

These represent the investment spending of domestic agents

Back 20

Gross domestic capital information

Front 21

It is the total value of all newly produced capital goods

Example plant equipment housing and inventory produced in a given period

Back 21

Gross investment

Front 22

It is a measure of how much the stock of capital changes during a period it is computed gross investment minus depreciation

( GI - Depreciation)

Back 22

Net investment

Front 23

True or False

If the amount of new capital produced exceeds the amount that wears out that net investment is positive

Back 23

True

Front 24

True or False

If the amount of new hopital produced is less than the amount that wears out that investment is negative

Back 24

True

Front 25

It is the difference between exports and imports

Back 25

Net exports

Front 26

This represent the spending of the rest of the world on the goods and non factor services produced in the philippines

Back 26

Exports

Front 27

Represents the country's purchases of goods and non factor services from the rest of the world

Back 27

Imports

Front 28

It is a method of computing gdp that measures the income received by all factors of production in producing final goods which include wages, plants interest

Back 28

Income approach

Front 29

Is a method of computing gdp that involves taking the sum of the value-added of all terms and the economy it is calculated by taking the difference between a firm's sales and expenses from other firms

Back 29

Industry origin approach

Front 30

Capture the value added some the production of agricultural crops ornamental plants and livestock

Back 30

Agriculture sector

Front 31

Includes commercial and municipal fishing aquaculture and harvesting of marine products

Back 31

Fisheries sector

Front 32

Represents activity such as logging and gathering of other forestry products

Back 32

Forestry sector

Front 33

Represent the value added of firms engage in mining and quarrying manufacturing construction and utilities

Back 33

Industry sector

Front 34

It is made up of the following sub-sectors transportation, communication, storage, trade, finance , ownership of dwellings n centrio estate private services and government services

Back 34

Services sector

Front 35

The amount of income that households have to spend or save

Back 35

Disposable personal income

Front 36

Is the production of goods and services valued at current prices

Back 36

NOMINAL GDP

Front 37

Is the production of goods and services valued at constant prices

Back 37

REAL GDP

Front 38

It is the measure of price level calculated as the ratio of nominal GDP to real GDP multiply to 100

Back 38

GDP DEFLATOR