Economic Indicators- GDP

Front

To measure the health of an economy, people look at the symptoms or indicators used to measure the health of an economy. The 3 main indicators include all of the following except: Gross Domestic Product, Inflation/ Consumer Price Index, Unemployment, Average Income Level

Back

Average Income Level

Front

Gross Domestic Product includes the market value of all FINAL goods and services produced within a country during a given period of time. True or False?

Back

True

Front

Intermediate goods, used goods, and illegal goods are ____________ in a countries Gross Domestic Product(GDP).

Back

excluded

Front

Chemical fertilizers used by the farmers or cloth used by a tailor are examples of ________________________.

Back

Intermediate goods

Front

The largest spending category of GDP. This picture is a break down of all the things consumers spend their money on.

Back

Household Consumption

Front

A company putting its money towards expanding its business. An example of this would be a construction company buying new trucks and other heavy equipment to improve production.

Back

Business Investment

Front

Over half of the spending of the _______________ include programs like Medicare, Social Security & Unemployment.

Back

Government Purchases

Front

According to this image, the United States exported 200 billion in goods and services, and imported 150 billion. This category is what part of GDP?

Back

Net Exports/ NX

Front

What happens to GDP when a British company purchases a one-year membership to PartyFolks.com, a U.S. based company? Options: GDP increases, GDP decreases, No change

Back

GDP increases

Front

The U.S. Government hired 10 Chinese-language experts, from a Chinese company based in China, to train U.S. Workers. What is the effect on GDP?

Back

GDP decreases