OCR GCSE Economics - 3.1 - Economic Growth

Which of the following best describes gross domestic product?

• The growth in the number of goods and services bought over a period of time

• The value of good and services bought over a period of time

• The number of goods and services produced over a period of time

• The value of goods and services produced over a period of time

Which formula is the correct way to measure economic growth rate?

• Original GDP / Change in GDP x 100

• Original GDP - Change in GDP x 100

• Change in GDP / Original GDP x 100

• Change in GDP - Original GDP x 100

What is GDP per capita?

• GDP x population

• GDP / population

• GDP + population

• GDP - population

If GDP is £300 billion and the population is 30 million. What is GDP per capita?

• £270 billion

• £100,000

• £10,000

• £1,000

Which of the following DOESN’T cause economic growth?

• Increased investment

• Improved technology

• Increased labour productivity

• Less investment in education

Which of the following is a benefit of economic growth?

• A rise in the standard of living

• Increased pollution

• Increased congestion

• Inequalities in income and wealth

Which of the following is a cost of economic growth?

• A fall in unemployment

• A rise in employment

• A reduction in poverty

• Loss of non-renewable resources

Calculate the economic growth rate if GDP was £60 billion in Year 1 and £63 billion in Year 2.

• 1%

• 5%

• 10%

• 15%

Calculate the economic growth rate if GDP was £100 billion in Year 1 and £102 billion in Year 2.

• 1%

• 2%

• 10%

• 20%

Calculate GDP per capita if GDP is £200 billion and the population is 40 million.

• £1,000

• £2,000

• £5,000

• £10,000