GDP Questions

Front

What type of GDP is calculated with the current year's prices? Options: Nominal GDP, Real GDP, GDP per capita

Back

Nominal GDP

Front

Expectant parents buy supplies for the nursery. Would this be included in GDP?

Back

Yes - Consumer Spending

Front

Is the trade in exotic animals being illegally sold as pets included in GDP?

Back

No - Underground Economy

Front

Expectant parents buy supplies for the nursery. Would this be included in GDP?

Back

Yes - Consumer Spending

Front

GDP is calculated by adding consumption + investment + government spending + (exports sold - imports bought)

Back

adding consumption + investment + government spending + (exports sold - imports bought)

Front

How does investment in capital goods by companies help a country increase its GDP?

Back

When a company invests in capital, it can produce more goods at a better price and increase the profit that it makes.

Front

Which is an example of investment in human capital? Options: trucks, factories, education, highways

Back

education

Front

Dover Downs will sell millions of dollars of NASCAR merchandise on race weekend. Will this be included in GDP?

Back

Yes - Consumer Spending

Front

Mark always changes his own oil.  Is this effort counted in GDP?

Back

No - Non-market Activity

Front

Each individual on food stamps in Delaware can receive up to $194 a month.  Is this included in government spending?

Back

No - Purely financial Transaction. Government Transfer