Gross Domestic Product - GDP

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

The most important measure of economic growth is...

Back

GDP

Front

What is the 1st economic goal of each country? Options: Limit Inflation, Limit Unemployment, Promote Economic Growth, Measure expenditures

Back

Promote Economic Growth

Front

Gross Domestic Product (GDP) ONLY refers to the total value of FINAL goods and services produced in a country in one year.

Back

True

Front

Which of the following goods is included in GDP? Dresses, Screws used in a cruise missile, Flour for making bread, Cloth for making dresses

Back

Dresses

Front

What happens to GDP when the U.S. Government hires 10 Chinese-language experts to train U.S. Workers? Options: GDP increases, GDP decreases, No change

Back

GDP decreases

Front

Lauren coaches softball and gets paid in cash each week.  Is this included in GDP?

Back

No - Underground Economy

Front

What type of GDP shows the average level of wealth in a country? Options: Nominal GDP, Real GDP, GDP per capita

Back

GDP per capita

Front

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

Back

education

Front

High levels of GDP per capita indicate...

Back

Higher standard of living