Gross Domestic Product ___ is equal to the sum of the added value of each stage of production (intermediate stages) by all industries within a country, in the period
At factor cost
The other answers are correct
At market prices
GDPfc = ___ - Ti + Su
GNPfc
GDPmp
NDPfc
NDPfc = GDPfc - ___
Ti
Su
Dep
NNPfc = NDPfc + IEC - ___
IEF
IEL
The other answers are correct
NNPmp = NNPfc + Ti - ___
Dep
Su
Td
On the Lorenz curve, the percentage of income is plotted on the ___ axis
X
Y
Z
A Gini coefficient equal to ___ correspond to perfect equality
0.5
1
0
The background economy ___
The other answers are correct
It's illegal trade
They're the activities that avoid taxes
The ___ is therefore proposed by econogical economists and "green" economists as a proxy for GDP
Human Development Index
Genuine Progress Indicator
Remaining Private Product
The ___ combines monetary wealth with intangible wealth (institution and human capital) and environmental capital
Planet Happiness Index
Wealth Estimator
Remaining Private Product
___ is and index of human well-being and environmental impact, introduced by the New Economic Foundation (NEF), in july 2006. It measures the environmental efficienty with which human well-being is achieved within a given country or group. Human well-being is defined in terms of subjective life satisfaction and life expectancy
The Planet Happiness Index
The Quality of Life Index
The Gross National Happiness Index
The short-term variation of economic growth is classified as the ___
Economic cycle
The Kondratiev's Wave
The Kitchin's Wave
After two decades, with a growth rate of 5% the economy would have grown by ___
80%
165%
The other answers are correct
The phases of an economic cycle are: peak, recession, ___, and expansion
The other answers are correct
Increasing
Depression
A depression is ___ severe than a recession
More
The other answers are correct
Less
Average and median wealth have ___ globally
Decreased
Increased
The other answers are correct
The most important sector of the Andalusian economy is the ___
Primary
Secondary
Tertiary
In Andalusia, the industrial sector is ___ than in the rest of Spain
Lower
Higher
The other answers are correct
The ___ is the sum of wages, profits, interest payments, and other ways of earning money in a given period of time
Income
Wealth
The other answers are correct
In the circular flow income, the ___ flow that goes from families to companies are the production factors
Monetary
Real
The other answers are correct
In the circular flow income, the real flow that goes from the State to families and companies are ___
Taxes
Goods and services
Wages
In the circular income flow, the monetary flow that goes from families and companies to the State are ___
Wages
Goods and services
Taxes
Gross Domestic Product ___ is equal to the total expenses for all final goods and services produced within a country in a stipulated period of time (usually a 365-day year)
Gross Domestic Product at factor cost is equal to the sum of the added value of each stage of production (___ stages) by all industries within a country, in the period
Intermediate
The other answers are correct
Final
GDPfc = GDPmp - ___ + Su
Td
Ti
The other answers are correct
The ___ is the Net Domestic Product at factor cost plus the income earned by citizens abroad, minus the income earned by foreigners in the country
Net National Product at market prices
Gross National Product at market prices
Net National Product at factor cost
The ___ is the Net National Product at factor cost plus indirect taxes minus subsidies in production and imports
Net National Product at market prices
Gross Domestic Product at market prices
Gross Domestic Product at factor cost
The ___ analysis of income distribution measures the differences among the inhabitants of the regions
Personal
Geographical
Functional
The formula for the line of perfect equality of the Lorenz curve is ___
y = 2x
y = x
y = 1/x
___ Gini coefficients indicate a more unequal distribution
The other answers are correct
Lower
Higher
GDP estimates but doesn't take into account the underground economy, causing GDO to be ___
Underestimated
Overestimated
The other answers are correct
In countries highly dependent on resource extration or with a high ecological footprint, the disparities between GDP ant the Genuine Progress Indicator (GPI) can be very ___
Small
Large
The other answers are correct
___ and other Austrian economists argue that, since government spending is financed by productive sectors, and produces goods that consumers don't want, it's a burden on the economy and should therefore be deducted
Juan de Mariana
Murray Newton Rothbard
John Maynard Keynes
The economic ___ is the increase in the amount of goods and services by an economy over a period of time
The other answers are correct
Decrease
Growth
A growth rate of 2.5% per year will lead to a doubling of GDP within ___ years
28
9
The other answers are correct
After two decades, with a growth rate of 3% the economy would have grown by ___
165%
80%
The other answers are correct
The phases of an economic cycle are: peak, recession, depression, and ___
The other answers are correct
Decreasing
Expansion
The ___ is a growth in the level of economic activity, and the goods and services available in the market
Expansion
The other answers are correct
Peak
Poor countries are now ___ poor
More
Less
The other answers are correct
Agriculture is of great importance in the ___ sector of Andalusia
Tertiary
Secondary
Primary
The ___ will be the amount of properties owned by a nation
National wealth
National income
The other answers are correct
In the circular flow income, the real flow that goes ___ are the production factors
From companies to families
From families to companies
The other answers are correct
In the circular flow income, the ___ flow that goes from families and companies to the State are taxes
Real
Monetary
The other answers are correct
In the circular income flow, the ___ flow that goes from families and companies to the State is work
Monetary
The other answers are correct
Real
Gross Domestic Product at market prices is equal to the total expenses for all ___ goods and services produced within a country in a stipulated period of time (usually a 365-day year)
Intermediate
The other answers are correct
Final
___ = C + I + G + (X - M)
GDPmp
The other two answers are correct
GDPfc
___ = Primary Sector Added Value + Secondary Sector Added Value + Tertiary Sector Added Value
GDPfc
The other answers are correct
GDPmp
GDPfc = GDPmp - Ti + ___
IEC
Su
The other answers are correct
The Net National Product at factor cost is the ___ plus the income earned by citizens abroad, minus the income earned by foreigners in the country
Net Domestic Product at market prices
Gross National Product at market prices
Net Domestic Product at factor cost
The Net National Product at market prices is the ___ plus indirect taxes minus subsidies in production and imports
Net National Product at factor cost
Gross Domestic Product at market prices
Gross Domestic Product at factor cost
The ___ analysis of income distribution measures the differences among the factors: land, labor, and capital
Personal
Functional
Geograhical
The formula for the perfect inequality line of the Lorenz curve is ___
y = 0 when x > 100% and y = 100% when x < 100%
y = 0 when x < 100% and y = 100% when x = 100%
y = 100% when x > 100% and y = 0 when x = 100%
A Gini coefficient equal to ___ corresponds to perfect inequality
0
0.5
1
GDP omits economies where no ___ comes into play at all
Money
Barter
The other answers are correct
GDP doesn't measure the ___ of growth. A country can temporarily achive high GDP by overexploiting natural resources
Liquidity
Sustainability
The other answers are correct
Rothbard argues that even government tax surpluses should be deducted to create and estimate of ___
Gross Domestic Product
Remaining Private Product
Genuine Progress Indicator
The economic growth is dependent, among other things, on a ___ increase in money creation
The other answers are correct
Great
Suitable
A growth rate of 8% per year will lead to a doubling of GDP within ___ years
9
28
The other answers are correct
The ___ is the branch of economics that uses mathematical methods and models to analize, interpret and predict various economic variables and systems, such as price, market reactions, production cost, business trends and economic policy, as well as long-term economic growth
Econostatistics
Econometrics
The other answers are correct
In the ___ phase of economic cycle, all economic activity is in a period of prosperity, the economy is at or close to full employment so that all productive resources are employed
The other answers are correct
Recession
Peak
One of the ___ effects of growth is crime and pollution
Negative
The other answers are correct
Positive
The ___ School maintains that the concept of "growth" or the creation and acquisition of more goods and services is dependent on the relative desires of the individuals
Chicago
Austrian
The other answers are correct
Andalusian industry is located mainly in the ___
The other answers are correct
East
West
In the circular income flow, the ___ flow that goes from companies to families is goods and services
Real
Monetary
The other answers are correct
In the circular flow income, the real flow that goes from families to companies are ___
Consumption expenses
Production factors
Goods and services
In the circular flow income, the monetary flow that goes from ___ are taxes
The State to families and companies
Families and companies to the State
The other answers are correct
In the circular income flow, the real flow that goes ___ is work
From the state to families and companies
The other answers are correct
From families and companies to the State
Gross Domestic Product at market prices is equal to the total expenses for all final goods and services produced within a country in a stipulated period of time (usually a ___-day year)
360
366
365
GDPmp = ___ + I + G + (X - M)
C
The other two answers are correct
T
___ = GDPpm - Indirect taxes + Subsidies in production and imports
GDPfc
NDPfc
NNPfc
The ___ is equal to the Gross Domestic Product at factor cost minus the depreciation in the capital goods of a country
Gross Domestic Product at market prices
Net Domestic Product at factor cost
The other answers are correct
The Net National Product at factor cost is the Net Domestic Product at factor cost plus ___, minus the income earned by foreigners in the country
The Income Earned by Citizens in the country
The other answers are correct
The Income Earned by Cotizens abroad
The Net National Product at market prices is the Net National Product at factor cost plus ___ minus subsidies in production and imports
Indirect taxes
Direct taxes
Depreciation
The functional analysis of income distribution measures the differences among the factors:
Indirect taxes and subsidies for production and imports
Land, labor, and capital
Salaries, rent, and subsidies
The ___ coefficient is the area between the line of perfect equality and the observed Lorenz curve
Veblen
Gini
Giffen
___ thinks that the government shouldn't intervene in the economy just to ensure stability
The center sector
The updated socialism
The radical neoliberalism
GDP counts ___
The work it produces
The net change or that resulting from repair the damage
The other answers are correct
GDP growth can vary greatly depending on the ___ of goods used in the economy
Bag
Basket
Box
The ___ assesses quality of life across European countries through a serie of global and subjective life satisfaction questions, satisfaction with different aspects of life, and a set of questions used to calculate deficits in time, love, being and having
European National Happiness
European Quality of Life Study
European Happinex Index
Growth is conventionally measured as the percentage of increase in ___ Gross Domestic Product
The other answers are correct
Nominal
Real
The Four Asian ___ are: Taiwan, South Korea, Singapore and Hong Kong
Tigers
Bears
Lions
If more money is changing hands, but the prices of individual's goods are relatively stable, then it is proven that there is ___ productive capacity
Less
More
The same
A ___ is a general slowdown in economic activity over a sustained period of time
The other answers are correct
Expansion
Recession
One of the ___ effects of growth is consumerism
Negative
The other answers are correct
Positive
___ economists believe that the individual should determine how much "growth" he wants
Chicago
Austrian
The other answers are correct
Andalusian industry is located mainly ___
The other answers are correct
Inside
At the coast
In the circular income flow, the real flow that goes from ___ is goods and services
Companies to families
Family to companies
The other answers are correct
In the circular flow income, the ___ flow that goes from companies to families is wages, rents, dividends, etc.
The other answers are correct
Monetary
Real
Calculate the NDPfc with this information: C = 3,500; I = 2,600; G = 1,300; X = 400; M = 200; Ti = 350; Su = 300; Dep = 150; IEC = 175; and IEF = 90
7,600
7,400
7,550
In the circular income flow, the real flow that goes from families and companies to the State is ___
GDPfc = ___ - Indirect taxes + Subsidies in production and imports
GDPmp
NDPfc
NNPfc
The Net Domestic Product at factor cost is equal to the ___ cost minus the depreciation in the capital goods of a country
Gross Domestic Product at market prices
Gross Domestic Product af factor cost
The other answers are correct
The Net National Product at factor cost is the Net Domestic Product at factor cost plus the income earned by citizens abroad, minus the ___
The Income Earned by Foreigners outside the country
The other answers are correct
Income Earned by Foreigners in the country
The Net National Product at market prices is the Net National Product at factor cost plus indirect taxes minus the ___
Subsidies in production and imports
Income earned by Citizens abroad
Income earned by foreigners outside the country
The ___ analysis of income distribution measures differences in income distribution among families
Geographical
Personal
Functional
The Gini coefficient is the area between the line of perfect ___ and the observed Lorenz curve
Inequality
Equality
The other answers are correct
The ___ are part of a softer neoliberalism and promote a government more concerned about social issues, but without abandoning the ideology of contemporary liberalism
Center sectors
Updated socialism
The other answers are correct
Reconstruction after a natural disaster or war can give GDP a ___
Boost
Fall
The other answers are correct
International comparisions of GDP can be ___ if they don't take into account local differences in the quality of goods, when adjusting for purchasing power parity
The other answers are correct
Inaccurate
Accurate
The European Quality of Life Study assesses quality of life across European countries through a serie of global and ___ life satisfaction questions, satisfaction with different aspects of life, and a set of questions used to calculate deficits in time, love, being and having
Objective
Subjective
The other answers are correct
GDP is usually calculated in ___ terms, that is, in terms of adjusted inflation, to eliminate the effect of inflation on the price of the goods and services produced
The other answers are correct
Nominal
Real
The Four Asian Tigers are: ___, South Korea, Singapore and Hong Kong
Taiwan
Cambodia
Vietnam
The term ___ refers to fluctuations in the economy, in a broad sense, in production or economic activity over several months or years
Less
Economic cycle
Economic spiral
A ___ is a contraction of the economic cycle
The other answers are correct
Expansion
Recession
The 2007 ___ report of the United Nations warns that we are living much beyond our means
GEO-4
Environment-5
World-3
___ scientist, David Suzuki indicated in the 1990s that ecology can only sustain from 1.5 to 3% new growth per year
Japanese
Canadian
American
Andalusian industry is located mainly in ___
The other answers are correct
The villages
The big cities
In the circular income flow, the real flow that goes from companies to families is ___
Goods and services
Wages, rents, dividends, etc.
The other answers are correct
In the circular flow income, the monetary flow that goes from ___ is wages, rents, dividends, etc.
The other answers are correct
Companies to families
Families to companies
Calculate the NNPfc with this information: C = 7,500; I = 3,000; G = 2,000; X = 600; M = 800; Ti = 750; Su = 500; Dep = 250; IEC = 475; and IEF = 450
11,800
11,825
12,050
In the circular income flow, the ___ flow that goes from the State to families and companies is wages
GDPfc = GDPmp - ___ + Subsidies in production and imports
Indirect taxes
Direct taxes
The other answers are correct
The Net Domestic Product at factor cost is equal to the Gross Domestic Product af factor cost minus the ___
Indirect taxes
Depreciation in the capital goods of a country
Subsidies in production and import
___ = NDPfc + IEC - IEF
NDPmp
NNPmp
NNPfc
___ = NNPfc + Ti - Su
NNPmp
NDPfc
NDPmp
The ___ curve is often used to represent the distribution of income where it shows at the bottom the percentage of families and the percentage of total income they have
Veblen
Lorenz
Gini
The Gini coefficient is the area between the line of perfect equality and the observed ___ curve
Kondratiev
Lorenz
Say
The ___ doesn't take into account the disparity in income between the rich and the poor
Economic Well-Being Sustainability Index
Genuine Progress Indicator
Gross Domestic Product
GDP ignores externalities or "___"
Evils
Imports
The other answers are correct
The ___ uses GDP as a part of its calculation and then indicator of life expectancy and education levels
The other answers are correct
Human Development Index
Economic Well-Being Sustainability Index
The ___ coefficient considers the income disparity within a nation, qualifying the GDP results that can lead us to erroneous conclusions
Kitchin
Gini
Lorenz
Economic stabilization happens in the ___ term
The other answers are correct
Long
Short
The Four Asian Tigers are: Taiwan, ___, Singapore and Hong Kong
South Korea
North Vietnam
South Vietnam
The term economic cycle refers to fluctuations in the economy, in a broad sense, in production or economic activity over several months or years. These fluctuations happen around a ___ long-term trend
The other answers are correct
Growing
Decreasing
During recessions, many macroeconomic indicators vary in a similar way. Production, measured by Gross Domestic Product (GDP), employment, investment spending, utilization capacity, household income, and business profits, all ___ during recessions
The other answers are correct
Go up
Fall
The GEO-4 report supports the reasoning and observations made by ___
Thomas Maltus
Adam Smith
George Stigler
Canadian scientist, ___ indicated in the 1990s that ecology can only sustain from 1.5 to 3% new growth per year
James Statan
David Suzuki
John Karpov
Andalusia has a ___ unemployment rate than the rest of Spain
The other answers are correct
Lower
Higher
In the circular income flow, the ___ flow that goes from families to companies is consumption expenses
Monetary
Real
The other answers are correct
In the circular flow income, the monetary flow that goes from companies to families is ___
Consumer expending
Wages, rents, dividends, etc.
Production factors
Calculate the NNPmp with this information: C = 10,500; I = 7,000; G = 6,000; X = 1,000; M = 800; Ti = 430; Su = 500; Dep = 350; IEC = 605; and IEF = 45
23,980
23,910
23,420
In the circular income flow, the monetary flow that goes from ___ is wages
The Lorenz curve is often used to represent the ___ where it shows at the bottom the percentage of families and the percentage of total income they have
Relationship between supply and demand
Distribution of income
Relationship between wealth and wages
The Gini coefficient is defined as a proportion and can vary form ___
0 to 5
0 to 1
0 to 10
The ___ excludes activities that aren't maintained through the market, such as family production and voluntary or unpaid services
Economic Well-Being Sustainability Index
Genuine Progress Indicator
Gross Domestic Product
GDP ignores ___ such as damage to the environment
Externalities
Internalities
The other answers are correct
The ___ takes the same raw information offered by GDP and then adjust for income distribution, adds the value of family and volunteer work, and substract crime and pollution
Genuine Progress Indicator
The other answers are correct
Economic Well-Being Sustainability Index
The ___ Center for studies is currently working on a complex set of subjective and objective indicators to measure "national happiness"
Dacca
Bhutan
New Delhi
Economic growth happens in the ___ term
The other answers are correct
Short
Long
The Four Asian Tigers are: Taiwan, South Korea, ___ and Hong Kong
Singapore
Birmania
Laos
The phases of an economic cycle are: ___, recession, depression and expansion
The other answers are correct
Peak
Base
An economic ___ is a sharp transition to a recession
The other answers are correct
Depression
Crisis
The GEO-4 report supports the reasoning and observations made by Thomas Maltus in early ___
1800
1700
1900
Canadian scientist, David Suzuki indicated in the 1990s that ecology can only sustain from ___ new growth per year