Chapter 12 review
- 1. Warm Up On a piece of paper, examine these pairs of words. Then write a sentence explaining what each pair has in common. To be turned in; you have 15 minutes. 1. Food stamps, Medicaid 2. Gross national product, net national product 3. Household, unrelated individuals 4. Intermediate products, secondhand sales 5. Underground economy, nonmarket transactions 6. Workfare, welfare 7. Life expectancy, dependency ratio 8. Demographer, center of population 9. Baby boom, population pyramid
- 2. National Output and Income GDP GNP -market value of all final goods, -market values of all final services and structures goods, services, and structures produced within a country’s produced in one year with labor national borders in a year and prosperity supplied by a -indicator of the condition of country’s residents the nation’s economy -includes all payments to -includes output of foreign- citizens, regardless of where the owned firms located in the production takes place United States -excludes income earned by -includes only final products foreign-owned resources in the country
- 3. Population Fertility Rate Life Population Planning for Expectancy Growth the Future Net Immigration
- 4. Poverty Decline of Low-Paying Unions Service Jobs Lack of Access to some Discrimination Professions Lack of Unfavorable Financial Tax Laws Resources Lack of Shift to Single- Education Poverty Parent Families
- 5. Bingo! Words to use: Disposable Personal Income (DPI) Lorenz Curve Macroeconomics Household Welfare Unrelated Individual Food Stamps Gross domestic product Family Medicaid Intermediate products Output-expenditure Model Census Secondhand sales Net Exports of Goods and Services Enterprise Zone Nonmarket transactions Earned Income Tax Credit (EITC) Workfare Underground economy Urban Population Negative Income Tax Rural Population Base year Center of Population Real GDP Infrastructure Current GDP Baby Boom GDP per capita Population Pyramid Gross National Product Dependency Ratio (GNP) Demographers Fertility Rate Net National Product Life Expectancy (NNP) Net Immigration National Income (NI) Poverty Threshold Personal Income (PI) Poverty Guidelines