Macro: GDP

What is this current unit about?

• fiscal and monetary policy

• economic indicators

• taxes and subsidies

• money, investment, and savings

Which indicator: total value of all final goods and services produced within a country's borders within a given period of time.

• Gross Domestic Product (GDP)

• Unemployment

• Consumer Price Index/Inflation

• Fiscal and Monetary Policy

Which of the following is the GDP equation?

• C + I + G- NX

• K + F+ C

• C- I- G- NX

• C + I + G + NX

Which component of GDP represents you and is the largest (almost 70% of expenditures)?

• C

• I

• G

• NX

When Amazon buys a new delivery truck fleet, what component of the GDP equation is this?

• C

• I

• G

• NX

NX represents

• net imports

• imports-exports

• exports-imports

• a trade surplus

The only negative in the GDP equation is

• C

• I

• G

• NX

Which of the following is NOT included in GDP?

• a shirt purchased at a garage sale

• your morning coffee from Scooters

• the new Lincoln Public High School that is being built

• fighter jets sold to Egypt made by the US

Which represents GDP adjusted for inflation?

• Nominal GDP

• per capita GDP

• Real GDP

Which of the following is NOT a shortcoming of GDP?

• it doesn't count stay at home parents

• it doesn't measure happiness and well being

• it doesn't include intermediate goods

• it doesn't count the underground economy