Ch 12 GDP/Business Cycle

Ch 12 GDP/Business Cycle

9th - 12th Grade

21 Qs

quiz-placeholder

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Ch 12 GDP/Business Cycle

Ch 12 GDP/Business Cycle

Assessment

Quiz

Other, History

9th - 12th Grade

Medium

Created by

Lydia Ivy

Used 76+ times

FREE Resource

21 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

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

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Expectant parents buy supplies for the nursery.  Would this be included in GDP? 
Yes - Consumer Spending
Yes - Investment 
No - Intermediate goods
No - Non-market activity

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

The trade in exotic animals being illegally sold as pets is a multi-billion-dollar-a-year industry.  Is this included in GDP?
Yes - Consumer spending
Yes - Government Spending
No - Underground Economy 
No - Non-market activity 

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

The federal government is expected to spend $3.95 trillion this year.  Will this be counted in GDP?
YES
NO

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Aly spends $400 on used textbooks at the beginning of the semester in college.  Is this included in the GDP?
YES
NO

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The value of the output of all final goods and services produced within a country in a year.
total ouput
Gross Domestic Product
national income
net domestic product

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

GDP is calculated by
adding up the cost of goods used in producing the item
subtracting all costs from total revenue
adding consumption + investment +government spending+ (exports sold - imports bought)

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