AP Macro GDP

AP Macro GDP

Assessment

Flashcard

Social Studies

12th Grade

Hard

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14 questions

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1.

FLASHCARD QUESTION

Front

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

Back

Yes - Consumer Spending

2.

FLASHCARD QUESTION

Front

Is the amount received by each individual on food stamps in Florida included in government spending?

Back

No - Transfer Payment

3.

FLASHCARD QUESTION

Front

Which of the following would not affect the size of real GDP? Consumer purchase of a new car for personal use., Government purchase of a new car for the military, Consumer purchase of a rare renaissance painting., Business purchase of a new car for a delivery vehicle.

Back

Consumer purchase of a rare renaissance painting.

4.

FLASHCARD QUESTION

Front

Which of the following is included in the calculation of the US GDP:
The money that consumers save when using coupons,
the benefit society receives from a cleaner environment,
online purchases of used products,
a computer produced in China by a US owned company,
a plane produced in the US but sold in Mexico?

Back

a plane produced in the US but sold in Mexico

5.

FLASHCARD QUESTION

Front

What are the four main parts of the circular flow diagram? Options: Product Market, Stock Market, Factor Market, Fish Market; Product Market, House Market, Factor Market, Good Market; Factor Market, Product Market, Households, Firms; Factor Market, households, Stock Market, super market

Back

Factor Market, Product Market, Households, Firms

6.

FLASHCARD QUESTION

Front

Which of the following describes a machine used to produce a product? Land, Labor, Capital, Entrepreneurship

Back

Capital

7.

FLASHCARD QUESTION

Front

According to the circular flow model where can you buy and sell a haircut?

Back

The Product Market

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