Measuring Economic Performance

Measuring Economic Performance

Assessment

Flashcard

Other

12th Grade

Practice Problem

Hard

Created by

Wayground Content

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20 questions

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1.

FLASHCARD QUESTION

Front

Which of the following would NOT be included in the GDP? investment spending by a business, consumer spending, government spending, paper/financial transactions

Back

paper/financial transactions

2.

FLASHCARD QUESTION

Front

Which of the following is an example of an intermediate good? Options: the purchase of leather to make shoes, the purchase of a new radio for your car, the purchase of a new car, the purchase of a new lawnmower

Back

the purchase of leather to make shoes

3.

FLASHCARD QUESTION

Front

The goal of the government and the American people is that GDP...

Back

grows steadily.

4.

FLASHCARD QUESTION

Front

The single best measure of the overall performance of the American economy and our standard of living is...

Back

real GDP.

5.

FLASHCARD QUESTION

Front

Nominal GDP is the current dollar value of the nation's output with no adjustment for inflation.

Back

True

6.

FLASHCARD QUESTION

Front

CPI stands for which of the following?

Back

Consumer Price Index

7.

FLASHCARD QUESTION

Front

The Consumer Price Index (CPI) measures changes in prices of consumer goods before they reach the retail level. True or False?

Back

False

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