Expenditure Method Quiz

Quiz
•
Social Studies
•
12th Grade
•
Medium
Diksha Singh
Used 2+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the Expenditure Method?
A method of calculating unemployment rate by summing up all spending on final goods and services in an economy.
A method of calculating inflation by summing up all spending on final goods and services in an economy.
A method of calculating GDP by summing up all spending on intermediate goods and services in an economy.
A method of calculating GDP by summing up all spending on final goods and services in an economy.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Name the components of the Expenditure Method.
exports
imports
savings
consumption, investment, government spending, net exports
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Provide an example of government spending as part of the Expenditure Method.
Infrastructure spending by the government
Defense spending by the government
Healthcare spending by the government
Education spending by the government
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Explain how personal consumption is included in the Expenditure Method.
Personal consumption is excluded from the Expenditure Method
Personal consumption only includes spending on services, not goods
Personal consumption is calculated based on government spending
Personal consumption is a key component of the Expenditure Method as it represents the total spending by households on goods and services.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does investment contribute to the Expenditure Method?
Investment is excluded from the Expenditure Method calculations.
Investment is considered a liability in the Expenditure Method.
Investment refers to personal savings only, not contributing to the total expenditure.
Investment represents the purchase of goods and services for future production, contributing to the total expenditure in the economy.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Give an example of net exports in the Expenditure Method.
Net exports are calculated as the value of imports minus the value of exports.
Net exports refer to the total value of goods produced domestically.
Net exports in the Expenditure Method are determined by adding the value of imports and exports.
Net exports in the Expenditure Method can be calculated as the value of exports minus the value of imports.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Discuss the significance of the Expenditure Method in calculating GDP.
The Expenditure Method only focuses on government spending, ignoring other economic activities.
The Expenditure Method is significant in calculating GDP as it considers all spending activities in an economy to measure the total economic output accurately.
Using the Expenditure Method leads to inaccurate GDP figures due to its exclusion of consumer spending.
The Expenditure Method is irrelevant in GDP calculations as it overestimates the economic output.
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