Chapter 8

6. the total market value of all final goods and services produced during a year by factors of production located within a nation's border
8. consumer goods that are used up within three years
9. nominal values after adjustments have been made for changes in the price level
15. GDP minus depreciation
17. the yearly amount earned by the nation's factors of production
18. goods used up entirely in the production of final goods
19. any use of today's resources to expand tomorrow's production or consumption
20. adjustment in exchange rate conversions that takes into account differences in the true cost of living across countries.
21. reduction in the value of capital goods over a one-year period due to physical wear
22. the price of one currency in terms of another

1. personal income after income taxes have been paid
2. a measurement system used to estimate national income and its components
3. the creation of capital goods such as factories and machines
4. money values
5. computing gdp by adding up the dollar value at current market prices of all final goods and services
7. consumer goods with a life span of more then three years
10. measuring gdp by adding up all components of national income including wages, interest, rent and profits
11. the dollar value of an industry's sales minus the value of intermediate goods
12. the total market value of all goods and services produced during a year by factors of production located within a nation's borders
13. changes in the stocks of finished goods and goods in process as well as changes in the raw materials that businesses keep on hand
14. mental or physical labor or assistances purchased by consumers
16. goods and services that are at their final stage of production and will not be transformed into yet other goods or services.