DLD Macroeconomic Indicators

Front

What does Gross Domestic Product (GDP) measure?

Back

The total value of all goods and services produced over a specific time period within a country's borders.

Front

Which of the following best describes the unemployment rate? Options: The percentage of the total labor force that is employed. The percentage of the total population that is employed. The percentage of the total labor force that is unemployed but actively seeking employment. The percentage of the total population that is unemployed and not seeking employment.

Back

The percentage of the total labor force that is unemployed but actively seeking employment.

Front

What is inflation?

Back

An increase in the price of goods and services over time.

Front

Which of the following is NOT an economic indicator? GDP, Unemployment rate, Inflation rate, Population growth rate

Back

Population growth rate

Front

What does a rising unemployment rate typically indicate about an economy?

Back

It is shrinking.

Front

Which of the following best defines nominal GDP?

Back

GDP not adjusted for inflation.

Front

What is the primary goal of measuring economic health?

Back

To assess the standard of living and well-being of a country's citizens.

Front

Which of the following is NOT included in GDP? Consumer Spending, Transfer payments like social security, business investment in capital, Net exports

Back

Transfer payments like social security

Front

What is real GDP?

Back

GDP adjusted for inflation.

Front

How can the unemployment rate be misleading as an economic indicator?

Back

It only counts those actively seeking employment.