Module 2.1, 2.2, 2.3

What does GDP stand for?

How do countries measure the size of their economy?

• Gross Domestic Product

• Net exports to other countries

• Government tax revenue

• Consumer spending

Which of the following is a component of GDP?

• Social Security Payments

• Stock Dividends

• Government Spending

What is the largest component of GDP in the United States?

• Investement Spending

• Consumer Spending

• Government Spending

• Exports

Which of the following items are included and which are excluded in calculating GDP?

A paycheck earned from Market Basket.

• Included

• Excluded

Which of the following items are included and which are excluded in calculating GDP?

An electrician's purchase of a two-year old used truck.

• Included

• Excluded

Which of the following items are included and which are excluded in calculating GDP?

A monthly check received from the Social Security office.

• Included

• Excluded

Which of the following items are included and which are excluded in calculating GDP?

A farmer’s purchase of a new tractor.

• Included

• Excluded

Which of the following items are included and which are excluded in calculating GDP?

The government’s purchase of a new helicopter for the Army.

• Included

• Excluded

Which of the following items are included and which are excluded in calculating GDP?

Income received from the sale of McDonald's stock.

• Included

• Excluded