GDP & Inflation

GDP & Inflation

10th - 11th Grade

20 Qs

quiz-placeholder

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GDP & Inflation

GDP & Inflation

Assessment

Quiz

Social Studies

10th - 11th Grade

Practice Problem

Medium

Created by

Kelly Bench

Used 243+ times

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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is GDP?

Gross Domestic Product

Get Duties Prior

Gross Department Power

Gross Duties Peer

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

GDP measures the:

Total market value of intermediate goods and services produced by the citizens of a country in a given year.

Total market value of all final goods and services produced in an economy in a given year.

Change in total employment at U.S. owned firms over the course of a given year.

Change in production levels at U.S. owned firms measured quarterly.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Business spending on physical capital, new homes, and inventories is counted in which component of GDP?

consumption

investment

imports-exports

government spending

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of GDP is calculated with the current year's prices?

Nominal GDP
Real GDP
GDP per capita

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

High levels of GDP per capita indicate...

Higher levels of happiness 
Higher standard of living
Equal levels of wealth 
Self-sufficient communities

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Tanks and roads belong in which part of the GDP formula?
GDP = C+I+G+(X-M)

Consumption Expenditures
Investment Expenditures
Government Expenditures
Net Imports

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is the best measurement of a country's living standard?

Nominal GDP

Real GDP

GDP per capita

Real GDP per capita

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