Unit 4 Economics Quiz

What branch of economics studies the BIG picture?

• Microeconomics

• Macroeconomics

• Econometrics

• Behavioral Economics

What is the total value of all final goods and services produced within a country’s borders within a given period of time?

• GDP

• GNP

• CPI

• NNP

True or False, second hand sales, such as those on eBay, are NOT included in GDP.

• True

• False

True or False, illegal activities are included in GDP.

• True

• False

When a family walks into McDonald's and orders food, this would be an example of …

• Investment

• Consumption

• Government

• Net Exports

Which does not count for GDP?

• Amazon builds a new warehouse.

• The state patrol buys several new Chevy Suburbans.

• Granny receives her monthly Social Security check.

• A company exports goods to another country.

GDP variable that calculates consumper spending.

• Investment

• Consumption

• Government

• Net Exports

GDP variable that includes money that the government spends.

• Investment

• Consumption

• Government

• Net Exports

GDP variable that calculates business spending in the economy.

• Investment

• Consumption

• Government

• Net Exports

GDP variable representing foreign spending.

• Investment

• Consumption

• Government

• Net Exports