GDP is made of all the following except

ECON EO 3

Quiz
•
Social Studies
•
9th - 12th Grade
•
Hard
Richard Mintken
Used 101+ times
FREE Resource
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Consumption of new goods and services by households
Investment in new capital by businesses
Exports of new final goods and services
Consumption of used goods and services by households
Government expenditures on new goods and services
2.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Gross Domestic Product measures
the total amount of final goods and services made within a calendar year
the dollar value of all final goods, services and structures produced within a country's borders during a calendar year
the total number of goods and services that were sold within a country in a year
the dollar value of all goods, services and structures purchased within a calendar year
the total dollar value of all goods and services produced anywhere in the world by a country in a calendar year
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Glenn's job at Werner Park as a scoreboard operator gets cut b/c a new automated digital scoreboard was installed. Glenn can't find a new job anywhere as a scoreboard operator b/c all stadiums are using new digital scoreboards. His skills are no longer in demand. What type of unemployment is this?
Not counted towards unemployment
Frictional
Structural
Cyclical
Seasonal
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Mark Zuckerberg decides to resign his job at Facebook and spend more time with his family. What type of unemployment would this be categorized as
Not counted towards unemployment
Frictional
Structural
Cyclical
Seasonal
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Last week a woman went to Marco's Quality Auto in Fremont, NE and bought a 2004 MINI Cooper. What part of GDP would this be categorized as?
Consumption by households
Investment in new capital
Exports of goods and services
Not counted towards GDP
Government purchases
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
If unemployment is rising and GDP is negative or falling, what part of the economic cycle is the country most likely in?
Expansion
Recession
Cyclical
Structural
Peak
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A man if fired from his job working at 7-Eleven b/c of a dramatic drop off in sales due to a slowing economy. He is looking for a new job, but so far has not found one. This category of unemployment is called
Not counted towards unemployment
Structural
Frictional
Seasonal
Cyclical
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