GDP, GNP, GNI

Gross

• before deductions

• after deductions

• after taxes

Domestic

• within a counties borders

• within a countries borders

• the entire world

Product

• goods

• services

• both

GDP is the total $ value of all final goods and services produced in a country in a year.

• T

• F

GDP does include intermediate goods.

• T

• F

All of the following are components of GDP except

• consumer spending

• business spending

• net exports

• government spending

• environmental spending

Consumer spending accounts for roughly ____ of GDP.

• 10%

• 40%

• 70%

• 30%

Government and business spending account for roughly

• 20% of GDP

• 10% of GDP

• 40% of GDP

Business spending is also referred to as

• investment

• inventory

Governments spend money on many to operate- all of the following would be examples of government spending except

• computers

• public education

• national security

• inventory for a new store