Wednesday, December 22, 2010

Post 13 - Practice quizzes! Explain the 10 things you learned or things that got "cleared up for you"

1. Economists track things using "National Income Accounting"
2. To calculate GDP economists use output-expenditure model
3. Indirect Taxes are included in final tax price
4. There is a seperate economy called the underground economy
5. A business cycle is just a market fluctuation
6. The great depression was the most severe contraction in the American Economy
7. War is considered an external factor
8. Economic Growth is essential to prosperity
9. US does not have to import lumber or coal, only oil
10. American productivity growth has slowed down since the 60's

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