GDP #1

Front

Which is a final product in a bakery? Options: Cake, Flour, Eggs, Sugar

Back

Cake

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 impact on GDP?

Back

GDP decreases

Front

Expectant parents buy supplies for the nursery. Would this be included in GDP?

Back

Yes - Consumer Spending

Front

The trade in exotic animals being illegally sold as pets is a multi-billion-dollar-a-year industry. Is this included in GDP?

Back

No - Underground Economy

Front

GDP is calculated by adding consumption + investment + government spending + (exports sold - imports bought)

Back

adding consumption + investment + government spending + (exports sold - imports bought)

Front

A shoe produced in South Korea and sold in the U.S.

Back

Included in South Korea GDP

Front

A higher GDP generally correlates to a(n) ___________ standard of living.

Back

higher

Front

Is this counted in the GDP of the US? Cars made by a Japanese company in California.

Back

Yes

Front

Is this counted in the GDP of the US? The materials (lumber, cement, bricks) used to build a house.

Back

No