Unit 2 Econ Quiz

Unit 2 Econ Quiz

12th Grade - University

20 Qs

quiz-placeholder

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Unit 2 Econ Quiz

Unit 2 Econ Quiz

Assessment

Quiz

Other

12th Grade - University

Medium

Created by

Finan Letts

Used 10+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

GDP = Consumption by households + Investment by producers + government spending + (imports - exports)

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Nominal GDP can rise in value because of two of the below reasons. Which reason is not correct?

The output of the country increases

The general level of prices in the country decreases

The general level of prices in the country increases

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which one of the following is NOT a method of calculating real GDP?

income method

savings method

expenditure method

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The following information is taken from the national accounts of Zambibia:


C = R200 million

I = R50 million

G = R150 million

X = R200 million

M = R180 million


Gross Domestic Expenditure is

R400 million

R420 million

R600 million

R380 million

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not a cost of economic growth?

Distribution of income becomes more unequal.

Depletion of natural resources

Decreased inflation

Pollution and environmental damage

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If GDP is £300 billion and the population is 30 million. What is GDP per capita?

£270 billion

£100,000

£10,000

£1,000

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Calculate the economic growth rate if GDP was £60 billion in Year 1 and £63 billion in Year 2.

1%

5%

10%

15%

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