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Economics Review

Authored by Deborah Merritt

History

6th - 8th Grade

Used 66+ times

Economics Review
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35 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does GDP stand for?

Grand, Dope, Pyramid
Good Danish People
Gross Domestic Product
Gucci Dead Platypus

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Gross Domestic Product (GDP) ONLY refers to the total value of FINAL goods and services produced in a country in one year

True
False

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

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.

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which is an example of investment in human capital?

trucks
factories
education
highways

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

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.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Soil, minerals, air, water, and coal are all examples of

Natural Resources
Conservation
labor
physical capital

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Skills people acquire as they specialize in an area.

physical capital
labor
human capital
entrepreneurship

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