GDP is the total market value of:
Macroeconomics Exam

Quiz
•
Social Studies
•
12th Grade
•
Hard
Crystal Davis
Used 2+ times
FREE Resource
33 questions
Show all answers
1.
MULTIPLE SELECT QUESTION
30 sec • 2 pts
all expenditures on natural resources, labor, and capital goods in an economy in a given year.
all expenditures on consumption, investment, and net exports in an economy in a given year.
all intermediate goods and services produced in an economy in a given year.
all final goods and services produced within a nation's borders in a given year.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A period of decline in total output, income, employment, and trade, lasting six months or longer, is defined as a:
trough
recession
business cycle
secular trend
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A headline in the New York Times reads: “Thousands of U. S. auto makers lose jobs to workers in Mexico.” After reading it you realize this story is a perfect example of __________ unemployment.
frictional
seasonal
cyclical
structural
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is Consumer Price Index used for?
to measure Market Structures
to measure GDP in order to determine rate of inflation
measures changes in price of goods and services and determines inflation rate
measures money and measures products at the same time
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
GDP, growth, business cycles, and unemployment are all central topics in:
microeconomics
macroeconomics
utility theory
wage determination
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which is included in the measure of GDP?
spending on meals by consumers at restaurants
spending on used clothing by consumers at garage sales
the monetary value of stocks and bonds owned by investors
the monetary value of used trucks purchased by construction companies
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Exports minus imports may be defined as:
net imports
net exports
net investment
foreign exchange
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