GDP - Basics

Front

What is the primary measure of economic growth/health for a nation? Options: Consumer Price Index, Gross National Product, Gross Domestic Product, Net Exports

Back

Gross Domestic Product

Front

What represents the total market value of all final goods and services produced within a country in a given period?

Back

Gross Domestic Product

Front

What is the equation of GDP?

Back

C + I + G + (X-N)

Front

What does the term 'Net Exports' refer to in the context of a country's GDP?

Back

The value of a country's total exports minus its total imports.

Front

What measures the total market value of all final Goods/Services produced in a country in a year?

Back

Gross Domestic Product (GDP)

Front

What are goods & services used to make final products called?

Back

Intermediate Goods

Front

Intermediate Goods are _______ in GDP.

Back

Excluded

Front

What are goods that are older and resold called?

Back

Used Goods

Front

Used Goods are ______ in GDP.

Back

Excluded

Front

These are services you do for yourself and no money is exchanged. Example: You mow your own lawn.

Back

Nonmarket Transactions