1. Gross Domestic Product Real Gross Domestic Product
Circular-Flow
Gross Domestic Product
Real Gross Domestic Product
Unemployment
$100
$100
$100
$100
$200
$200
$200
$200
$300
$300
$300
$300
$400
$400
$400
$400
Final J

2. What is the best known factor market?

3. An individual or a group of people who share income are known as __________.

4. Goods and services sold to other countries are known as __________.

5. What is one example of a government transfer?

6. What acronym is associated with gross domestic product?

7. Name one way to calculate an economy’s GDP.

8. Why are intermediate goods and services excluded from GDP calculations?

9. What does C stand for in the following formula?
𝑮𝑫𝑷=𝑪+𝑰+𝑮+𝑿+𝑰𝑴

10. What is the difference between nominal GDP and real GDP?

11. What measure of economic performance takes into account population size?

12. What is the total quantity of final goods and services produced within an economy known as?

13. Why does the United States have considerably more economic weight than Japan?

14. What does unemployed mean?

15. What is the significance of the unemployment rate?

16. Name one example of a person who is NOT employed and also NOT unemployed.

17. If cashiers are replaced with automated robots, what will happen to the unemployment rate?

19. How does minimum wage affect unemployment?