10 Questions
What is the main purpose of the national income and product accounts (NIPA)?
To provide data on general economic activity in the United States
How are the national income and product accounts (NIPA) produced?
By the Bureau of Economic Analysis of the Department of Commerce
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
What type of accounting method is used in the national income and product accounts (NIPA)?
Double-entry accounting
How many summary accounts are published in the national income and product accounts (NIPA)?
Seven
According to Keynesian economics, what strongly influences economic output and inflation?
Aggregate demand
What do Keynesian economists argue about aggregate demand in a market economy?
It is volatile and unstable
What do Keynesian economists suggest can mitigate economic fluctuations?
Coordinated economic policy responses
According to Keynesian economics, what can lead to recessions in a market economy?
Low demand
What is the Keynesian view on the relationship between aggregate demand and productive capacity?
They do not necessarily equal each other
Test your knowledge of the National Income and Product Accounts (NIPA) with this quiz. Explore the key concepts and data sources related to economic activity in the United States.
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