
AP Macro: GDP and Business Cycle
Authored by Jason Lee
Social Studies
11th - 12th Grade
Used 83+ times

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36 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
High levels of GDP per capita indicate...
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Expectant parents buy supplies for the nursery. Would this be included in GDP?
3.
MULTIPLE CHOICE QUESTION
20 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?
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a circular flow diagram,
i) the value of production = income
ii) the value of production = expenditure
iii) expenditure = income
only i is true statement.
i and ii are true statements.
only iii is a true statement.
i and iii are true statements.
i, ii, and iii are true statements.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Each individual on food stamps in Florida can receive up to $194 a month. Is this included in government spending?
Yes - Government spending
Yes - Consumer Spending
No - Intermediate Goods
No - transfer payment
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Last year in Linsdellia, consumption expenditure was $20 billion, interest, rent, and profit were $2.5 billion, government expenditure on goods and services was $7 billion, net exports was $5 billion, and investment was $2 billion. Hence total expenditure was
$24.5 billion.
undetermined without information about imports.
$34 billion.
$34.5 billion.
$36.5 billion.
7.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
If nominal GDP increases, this means:
We must be producing more goods and services.
We must be experiencing inflation.
Either there has been inflation or we are producing more.
The value of the currency has fallen.
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