2/21 Act. 1 Bell Ringer What is GDP?
Flashcard
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Other
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12th Grade
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Practice Problem
•
Hard
Wayground Content
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5 questions
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1.
FLASHCARD QUESTION
Front
What does GDP stand for?
Back
Gross Domestic Product
2.
FLASHCARD QUESTION
Front
What is GDP?
Back
The total market value of all final goods and services produced in an economy in a given year.
3.
FLASHCARD QUESTION
Front
How is GDP measured?
Back
By multiplying the prices of goods and services by the quantity sold and adding it all up for the entire economy.
4.
FLASHCARD QUESTION
Front
How often is GDP measured in the United States?
Back
Quarterly
5.
FLASHCARD QUESTION
Front
What does a growing economy indicate?
Back
More jobs and rising standards of living
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