Podcast
Questions and Answers
What is the main purpose of the national income and product accounts (NIPA)?
What is the main purpose of the national income and product accounts (NIPA)?
- To provide data on general economic activity in the United States (correct)
- To report the monetary value and sources of output produced in the country
- To analyze the international trade balance
- To track the distribution of incomes generated by production
How are the national income and product accounts (NIPA) produced?
How are the national income and product accounts (NIPA) produced?
- By the Federal Reserve
- By the Bureau of Economic Analysis of the Department of Commerce (correct)
- By the Internal Revenue Service
- By the Bureau of Labor Statistics
What does the left side of the two-column accounting report in the national income and product accounts (NIPA) show?
What does the left side of the two-column accounting report in the national income and product accounts (NIPA) show?
- Gross Domestic Product (GDP) by the income method (correct)
- National product as credit expense
- Gross Domestic Product (GDP) by the expenditure method
- National income as debit revenue
What type of accounting method is used in the national income and product accounts (NIPA)?
What type of accounting method is used in the national income and product accounts (NIPA)?
How many summary accounts are published in the national income and product accounts (NIPA)?
How many summary accounts are published in the national income and product accounts (NIPA)?
According to Keynesian economics, what strongly influences economic output and inflation?
According to Keynesian economics, what strongly influences economic output and inflation?
What do Keynesian economists argue about aggregate demand in a market economy?
What do Keynesian economists argue about aggregate demand in a market economy?
What do Keynesian economists suggest can mitigate economic fluctuations?
What do Keynesian economists suggest can mitigate economic fluctuations?
According to Keynesian economics, what can lead to recessions in a market economy?
According to Keynesian economics, what can lead to recessions in a market economy?
What is the Keynesian view on the relationship between aggregate demand and productive capacity?
What is the Keynesian view on the relationship between aggregate demand and productive capacity?
