Tuesday, January 11, 2011

Post 20

1) Gross national product, national income accounting, Macroeconomists use measures called national income and product accounts (NIPAs) to track production, income, and consumption in a nation's economy. This traking process is known as national income accounting and provides information about a nation's economic activites. (229)

2) Real GDP, nominal GDP, nominal GDP is just another name for current GDP. (232)

4) National income accounting, gross national product, Until December 1991 the Commerce Department used a NIPA called gross national product (GNP) to measure the U.S. economy. (234)

7) Lagging indicators, coincident indicators, These coincident indicators change as the economy moves from one phase of the business cycle to another and tell economists that as upturn or downturn in the economy has arrived. (240)

8) Coincident indicators, lagging indicators, Lagging indicators change months after an upturn or a downturn in the economy has begun and help economists predict the duration of economic upturns or downturns. (240)

9) 9, labor productivity, I wrote the number of the question instead of the letter 'k,' which was labor productivity.

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