
Economics Quiz: 08/07

Quiz
•
Business
•
12th Grade
•
Hard
SBAMP SBAMP
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What does GDP stand for?
Government Debt Percentage
General Development Plan
Global Demand Projection
Gross Domestic Product
2.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Which of the following is NOT included in the calculation of GDP?
Value of housework performed by housewives
Vouchers given out by Government to citizens
Financial transactions
Illegal activities
3.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
What is the formula for Real GDP?
Real GDP = MONEY GDP / (GDP price deflator / 100)
Real GDP = Pcy X Qcy
Real GDP = Pby X Qcy
Real GDP = GDP price deflator / 100
4.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
What is the limitation of using GDP as a measure of a country's well-being?
It does not consider population growth
It does not reflect the costs of growth
It does not indicate improvements in quality of goods
It does not account for income distribution
5.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
What is the Income multiplier effect formula?
Multiplier = 1 / MPC
Multiplier = 1 / MPS
Multiplier = Change in Output / Change in AD
Multiplier = Change in Consumption / Change in Income
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is the equilibrium in the economy when Aggregate Demand equals Aggregate Supply?
Below full employment
At full employment output level
Above full employment
At recessionary level
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is the main limitation of using Per Capita GDP as a measure of a country's well-being?
It does not indicate improvements in quality of goods
It does not reflect the costs of growth
It does not account for income distribution
It does not consider population growth
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