What does GDP stand for in economic terms?

Economic Terms Quiz

Quiz
•
Social Studies
•
12th Grade
•
Medium
Kevin Lafollett
Used 1+ times
FREE Resource
61 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Gross Domestic Product
Global Development Plan
General Domestic Policy
Gross Development Program
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does GDP display about a nation?
Economic Health
Political Stability
Cultural Diversity
Military Strength
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does GDP measure in a country?
The dollar value of all final goods and services produced within a country’s borders in a given year
The total population growth in a year
The number of new businesses started in a year
The amount of foreign investment in a year
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which method is more commonly used to calculate GDP?
Adding together how much every consumer in the entire economy spent
Adding together how much every consumer in the entire economy earned in paychecks
Calculating the total exports of a country
Measuring the total number of goods produced
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the expenditures approach in calculating GDP?
Adding together how much every consumer in the entire economy spent
Adding together how much every consumer in the entire economy earned in paychecks
Calculating the total imports of a country
Measuring the total number of services provided
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the 'C' represent in the GDP formula GDP = C + Ig + G + Xn?
Government Spending
Consumption
Private Investment
Net Exports
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the formula GDP = C + Ig + G + Xn, what does 'Ig' stand for?
Consumption
Government Spending
Private Investment
Net Exports
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