Agec 4623 Midterm Terms And Questions |83 Questions| With Correct Answers.

Intermediate Products {Ans: goods and services produced in order to be utilized in the production of other goods and services}Urbanized cluster {Ans: contiguous core tracts of land with >= 1000 people per sq mile, contiguous outside tracts of land with 500 ppl per sq mile, and a total population of those areas greater than or equal to 50,000 ppl.}Double Counting {Ans: process of counting the value of intermediate goods twice in measuring output}8. Distinguish between the three components of shift share analysis: aggregate growth, business mix, and the competitive effect. {Ans: Aggregate growth is the effect on growth of a industrial sector due to total national growth, while business mix is the industrial sector national effects, while competitive effect is the state's sector effects.}Gross Regional Product {Ans: Value added by all firms before depreciation; excludes intermediate inputs and imports}Indirect Effects {Ans: additional industry effects due to interlinkages between industrial sectors in the economy; includes all succeeding rounds of industry output after the direct effects}