Wednesday, January 5, 2011

Post 13

Mr.Campbell asked us to take three quizzes, and to explain 10 things that we learned or things that got 'cleared up.'

 
1) War is considered an external factor

2) Indirect Taxes are included in final tax price

3) US does not have to import lumber or coal, only oil

4) Economic Growth is essential to prosperity

5) American productivity growth has slowed down since the 60's

6) A business cycle is just a market fluctuation

7) The great depression was the most severe contraction in the American Economy


8) Economists track things using "National Income Accounting"

9) There is a separate economy called the underground economy

10) To calculate GDP economists use output-expenditure model
6) A business cycle is just a market fluctuation

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