GDP Review

Front

What is the equation of GDP?

Back

C + I + G + (X-N)

Front

In the GDP equation, what does the 'C' stand for?

Back

Consumer spending

Front

In the GDP equation, what does the 'I' stand for?

Back

Investment spending

Front

In the GDP equation, what does the 'G' stand for?

Back

Government spending

Front

In the GDP equation, what does the 'X' stand for?

Back

Exports

Front

In the GDP equation, what does the 'M' stand for?

Back

Imports

Front

Which of the following is the best measurement of economic growth? Nominal GDP, Real GDP, GDP per capita, Real GDP per capita

Back

Real GDP

Front

Which of the following is the best measurement of a country's living standard? Nominal GDP, Real GDP, GDP per capita, Real GDP per capita

Back

Real GDP per capita

Front

What is the total value of all final goods and services produced in the economy in a given year?

Back

GDP

Front

What is GDP divided by the size of the population?

Back

GDP per capita