Thursday, December 23, 2010

Post 13: Quiz Information

10 Things That I learned from the Quizes:

1. The most widely used NIPA is gross domestic product or GDP
2. Gross investment is the total value of all capital goods produced in a given country in one year as well as changes in the dollar value of business inventories
3. A price index is a set of statistics that allows economists to compare price over time
4. Indirect taxes are taxes included in the final price of goods and services
5. Per capita measures take into account changes in population
6. Without long-term economic growth, a nation's standard of living declines
7. Technology, capital goods, and education all influence productivity growth
8. The capital-to-labor ratio is the amount of capital stock available per worker
9. Capital deepening is an increase in the amount of capital goods available per worker
10. The contraction phase is a period of business slowdown

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