
Econ Chapter 12 Self-Assessment
Authored by Brad Poock
Social Studies
12th Grade
Used 49+ times

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64 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
(A)
Dolly spends $400 on used textbooks at the beginning of the semester in college. Is this included in the GDP?
YES
NO
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
(A)
The value of the output of all final goods and services produced within a country in a year.
total ouput
Gross Domestic Product
national income
net domestic product
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
(A)
Gross Domestic Product (GDP) ONLY refers to the total value of FINAL goods and services produced in a country in one year
True
False
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
(A)
What is one reason that a country could have a high GDP?
Because they have high wages.
Because they have a highly educated population.
Because they have low taxes.
Because they love going to space.
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
(A)
Which is an example of investment in human capital?
trucks
factories
education
highways
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
(A)
How does investment in capital goods by companies help a country increase its GDP?
The GDP of a country goes down when companies make more money
Companies that invest in capital goods are able to provide a better place for their workers to work
Highly trained workers help the company be more profitable by finding ways to help the company work better.
When a company invests in capital, it can produce more goods at a better price and increase the profit that it makes.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
(A)
GDP is calculated by
adding up the cost of goods used in producing the item
subtracting all costs from total revenue
adding consumption + investment +government spending+ (exports sold - imports bought)
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