11.2 Measuring GDP

Passage
•
Social Studies
•
12th Grade
•
Medium
TIMOTHY BALASA
Used 3+ times
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11 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
15 mins • 2 pts
What is the primary focus of the section 11.2 in the learning material?
Economic policies
Measuring GDP
Global trade metrics
Unemployment rates
2.
MULTIPLE CHOICE QUESTION
15 mins • 2 pts
What was the GDP of the United States in 2022?
More than $25.46 trillion
Less than $25.46 trillion
Exactly $25.46 trillion
$20.46 trillion
3.
MULTIPLE CHOICE QUESTION
15 mins • 2 pts
How does an economist categorize expenditures in the economy?
Consumption, Investment, Government purchases, Export spending
Savings, Import spending, Export spending
Investment, Government savings, Consumption, Import spending
Government purchases, Business investments, Household savings, Export spending
4.
MULTIPLE CHOICE QUESTION
15 mins • 2 pts
What term is used to describe the amounts spent by the business sector?
Investment
Consumption
Export spending
Savings
5.
MULTIPLE CHOICE QUESTION
15 mins • 2 pts
Which of the following best describes the term "consumption" in economic terms?
Amounts spent by the household sector
Amounts saved by the business sector
Government investments
Foreign export spending
6.
MULTIPLE CHOICE QUESTION
15 mins • 2 pts
Which formula represents the calculation of Gross Domestic Product (GDP) as shown in the learning material?
GDP = Consumption + Investment + Government Purchases + Export Spending + Import Spending
GDP = Consumption + Investment + Government Purchases + Export Spending - Import Spending
GDP = Consumption + Investment - Government Purchases + Export Spending - Import Spending
GDP = Consumption - Investment + Government Purchases + Export Spending - Import Spending
7.
MULTIPLE CHOICE QUESTION
15 mins • 2 pts
What does a higher GDP not necessarily indicate about a country's well-being?
Increased leisure time
Greater well-being
Improved health services
Enhanced infrastructure
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