GDP and National Income Questions

Front

What is GDP in the scenario where Aziz sells wool to Dilnoza for $20, who then makes two sweaters priced at $40 each, with one sold to Charos?

Back

$80

Front

Dilnoza, an Uzbek student, moves to Japan for the summer to teach English. Her salary is included

Back

only in Japan’s GDP

Front

Which of the following does NOT add to Uzbekistan’s GDP? Artel manufactures and sells a fridge to Kazakhstan. GM Uzbekistan builds a new auto factory in Syrdarya. The government pays a salary to a policeman. The government sends a Social Security check to your grandmother.

Back

The government sends a Social Security check to your grandmother

Front

An Uzbek buys a pair of shoes made in China. How do Uzbekistan’s national income accounts treat the transaction?

Back

Net exports fall, while GDP does not change.

Front

Which is the largest component of GDP?

Back

consumption

Front

GDP is an imperfect measure of well-being because it:

Back

ignores the environmental degradation from economic activity.

Front

Which of the following is included in the calculation of GDP?
Options:
the sale of a used car,
a new factory built by a company,
unpaid household work,
illegal drug sales

Back

a new factory built by a company

Front

The four components of GDP in the expenditure approach are:

Back

consumption, investment, government purchases, net exports

Front

Which of the following is NOT a component of investment spending in GDP calculations? new equipment purchased by firms, new residential housing construction, purchase of stocks and bonds, inventory accumulation

Back

purchase of stocks and bonds

Front

The difference between nominal GDP and real GDP is:

Back

Real GDP is adjusted for inflation, nominal GDP is not