Chapter 9 good times, bad times overview

• Economie & Ondernemen
• Middelbare school
• havo
• Leerjaar 3

Chapter 9 good times, bad times overview

What is GDP?

1. The sum of added value of all households
2. The sum of the profit of all companies
3. A measurement for the size of the economy
4. Great Domestic Prediction

How do you calculate added value?

1. turnover - costs
2. turnover - purchasing value
3. profit - costs
4. profit - purchasing value

What is the added value of this company?

Items sold	300
Price per item	€5
semi-finished product purchased total	€2000
wages paid	€1000
interest paid	€50

1. €450
2. €500
3. €1500
4. €3350

Lease, rent, interest, profit: which primary income is missing?

Which year shows real economic growth?

year	quantity of products	GDP
2025	3 million	€6 billion
2026	3.6 million	€7.2 billion
2027	3.3 million	€7.4 billion

1. 2025-2026
2. 2026-2027
3. both years
4. none of the years

Why is the GDP not perfect? (several answers correct)

1. It does not show economic growth
2. It does not show purchasing power
3. It does not show the size of the economy
4. It does not show the distribution of income

What is the cause of skewed income distribution?

1. the government
2. the distribution of production factors
3. the distribution of added value
4. life is unfair

What are secondary incomes?

1. Primary incomes - taxes + benefits
2. Primary incomes - production factors + added value
3. Gross wages - net wages
4. Income in the second week of the month

Which statement about the table is correct?

1. Income group 5 pays €200 tax
2. Group 5 pays relatively less tax than group 4
3. The secondary incomes are more skewed than primary incomes
4. The government in this country equalises incomes

What is NOT a feature of a boom?

1. Low unemployment
2. inflation
3. low consumer confidence
4. high demand for products

Look at the graph. Which statements are true?

1. In 2008 there probably was a boom
2. In 2019, the economy was in a boom
3. Between 2008 and 2018 unemployment was probably increasing
4. Between 2008 and 2018 GDP was probably increasing

Which statement is NOT true?

1. during a slump, capacity utilisation rate is low
2. during a slump, the government can lower taxes to end it
3. during a slump, governemt can spend more to end it
4. cyclical and structural policy makes slumps worse