GDP Assigned Quiz #4 _Late

Which of the following is the term for "the value of the output of all goods and services produced within a country in a year"

• human capital

• gross domestic product

• capital goods

• entrepreneurship

Your friend and you decide to open a snow cone stand. The stand and the snow cone machine are examples of which factor of production?

• Natural Resources
• Capital Resources/Goods
• Entrepreneurship 
• Human Capital

Your friend and you decide to open a snow cone stand. The training you give to the people you hire to run the stand are examples of which factor of production?

• Capital Resources/Goods

• Entrepreneurship

• Human Capital

• Natural Resources

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

• True
• False

What is GDP?

• a measurement of a country's economic activity and strength

• a measurement of how much a country exports ever year

• a measurement of how much a country imports ever year

• a measurement of how many days there are left until winter break

What does GDP stand for?

• Grand Domestic Production
• Gross Domestic Product
• Great Domestic Produce
• Gross Donut Party

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.

Which of the following represents an investment in human capital?

• creating a robot

• paving roads

• purchasing new Chromebooks

• learning to read and write

Which of the following represents an investment in capital resources/goods?

• providing free healthcare

• modernizing machinery

• providing skills training

• subsidizing the cost of attending university

Why is it important for a country to invest in human capital?

• because businesses need money in order to pay for their workers

• because businesses enjoy workers getting extra training and job opportunities

• because businesses are more successful when the workers have good training and health care

• because businesses are not responsible for the training and health care of the workers they employ