Chapter 19:  GDP and Business Cycles

Chapter 19: GDP and Business Cycles

12th Grade

86 Qs

quiz-placeholder

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Chapter 19:  GDP and Business Cycles

Chapter 19: GDP and Business Cycles

Assessment

Quiz

Social Studies

12th Grade

Medium

Created by

Michael Phillips

Used 7+ times

FREE Resource

86 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 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

High levels of GDP per capita indicate...
Higher levels of happiness 
Higher standard of living
Equal levels of wealth 
Self-sufficient communities

3.

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

4.

MULTIPLE CHOICE QUESTION

30 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 

5.

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)

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

How does investment in capital goods by companies help a country increase its GDP?
The GDP of a country goes down when companies make more money
Companies that invest in capital goods are able to provide a better place for their workers to work
Highly trained workers help the company be more profitable by finding ways to help the company work better.
When a company invests in capital, it can produce more goods at a better price and increase the profit that it makes.

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

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

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