1_GDP Practice

Front

Gross Domestic Product (GDP) ONLY refers to the total of FINAL goods and services produced in a country in one year.

Back

True

Front

An increase in GDP is an indicator of _______________________

Back

Economic Growth

Front

Which country has the world's largest GDP?

Back

US

Front

In the US, which category of GDP is the largest? Options: Government spending, Consumer expenditure, Net exports, Investments

Back

Consumer expenditure

Front

Which of the following is NOT a category of GDP? Government spending, Domestic labor, Business investment, Net exports

Back

Domestic labor

Front

Which of the following would NOT be counted in the US's GDP? A used car your grandfather sold you, You buy a new pair of shoes online, A business buys tires to resell, A city government's spending on a new park

Back

A used car your grandfather sold you

Front

Which of the following would be counted in the US's GDP?
A car produced in Korea by an American car company
Your aunt pays you to babysit your cousin
A French company based in the US makes frozen pastries
A business buys ingredients to make canned soups

Back

A French company based in the US makes frozen pastries

Front

Which of the 4 categories of GDP does a mechanic fixing your car's transmission fit into?

Back

Consumer spending

Front

Which of the 4 categories of GDP does this scenario fall into? A business purchases computer software and tablets for their employees

Back

Business investments

Front

Which of the 4 categories of GDP does this scenario fall into? A local library purchases new audiobooks

Back

Government spending