GDP #3

Front

What type of GDP is calculated with the current year's prices? Options: Nominal GDP, Real GDP, GDP per capita

Back

Nominal GDP

Front

High levels of GDP per capita indicate...

Back

Higher standard of living

Front

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

Back

Yes - Consumer Spending

Front

Is the trade in exotic animals being illegally sold as pets included in GDP?

Back

No - Underground Economy

Front

Government closes schools for the month of March. What is the likely 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

GDP is calculated by

Back

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

Front

How does investment in capital goods by companies help a country increase its GDP?

Back

When a company invests in capital, it can produce more goods at a better price and increase the profit that it makes.

Front

Which is an example of investment in human capital? Options: trucks, factories, education, highways

Back

education

Front

Dover Downs will sell millions of dollars of NASCAR merchandise on race weekend. Will this be included in GDP?

Back

Yes - Consumer Spending