GDP 2 Quiz

GDP 2 Quiz

University

18 Qs

quiz-placeholder

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GDP 2 Quiz

GDP 2 Quiz

Assessment

Quiz

Social Studies

University

Hard

Created by

Анастасия Быстрова

Used 2+ times

FREE Resource

18 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the branch of economics concerned with individual areas of economic activity?

International Economics

Microeconomics

Macroeconomics

Behavioral Economics

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which department in the United States computes the GDP?

Department of Commerce

Department of State

Department of Treasury

Department of Labor

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the formula used to calculate the components of GDP?

Y = C + I + G + X

Y = C - I + G + X

Y = C + I + G - X

Y = C + I - G + X

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which economic indicators rise or fall just before a major change in economic activity?

None of the above

Lagging economic indicators

Coincident economic indicators

Leading economic indicators

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the purpose of the earnings-and-cost approach in determining GDP?

Account for all money received for the production of goods and services

Measure total value of money spent on goods and services

Calculate the flow-of-product approach

Estimate the consumer spending

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What does the GDP measure?

Total land area of a country

Total number of businesses in a country

Monetary value of finished goods and services manufactured within a country

Total population of a country

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What does the GDP formula Y = C + I + G + X stand for?

GDP = Consumption + Investment + Government + Net Exports

GDP = Consumption + Investment + Government - Net Exports

GDP = Consumption - Investment + Government + Net Exports

GDP = Consumption + Investment - Government + Net Exports

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