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Econ. Chapter 11 Quiz

Authored by Robbe Nessler

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12th Grade

Used 3+ times

Econ. Chapter 11 Quiz
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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of GDP shows the average level of wealth in a country on a person by person basis?

Nominal GDP

Real GDP

GDP per capita

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of GDP is calculated with the current year's prices and therefore does not factor in inflation?

Nominal GDP

Real GDP

GDP per capita

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of GDP uses a base year's prices in order to make fair comparisons and therefore factors in inflation?

GDP per capita

Real GDP

Nominal GDP

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

High levels of GDP per capita indicate...

Higher levels of happiness 
Higher standard of living
Equal levels of wealth 
Self-sufficient communities

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Expectant parents buy supplies for the nursery.  Would this be included in GDP? 

Yes - Consumer Spending
Yes - Investment 
No - Intermediate goods
No - Non-market activity

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The trade in exotic animals being illegally sold as pets is a multi-billion-dollar-a-year industry.  Is this included in GDP?

Yes - Consumer spending
Yes - Government Spending
No - Underground Economy 
No - Non-market activity 

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

A shoemaker increases its bulk purchases of leather to keep up with demand.  Is this included in GDP?

Yes - Investment 
Yes - Government Spending
No - Intermediate Goods
No - used item

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