What is the GDP for Country W?
Chapter 7 Study Guide

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•
Social Studies
•
12th Grade
•
Hard
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25 questions
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1.
FLASHCARD QUESTION
Front
Back
$14,925
2.
FLASHCARD QUESTION
Front
What is it called when there is a permanent loss of jobs because of nontransferable skills?
Back
Creative destruction
3.
FLASHCARD QUESTION
Front
Which of the following is NOT counted in GDP? Purchasing groceries, Building a new factory, Funding public education
Back
Intermediate goods
4.
FLASHCARD QUESTION
Front
What is the best measure of a nation’s standard of living? Options: GDP per Consumption, GDP per Capita, GNP per Nation, Natural Resources
Back
GDP per Capita
5.
FLASHCARD QUESTION
Front
What is the primary cause of cyclical unemployment?
Back
Economic downturns or recessions
6.
FLASHCARD QUESTION
Front
What does M represent in the GDP formula?
Back
Imports
7.
FLASHCARD QUESTION
Front
What does X represent in the GDP formula?
Back
Exports
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