Economic Indicators

What does GDP stand for?

• Gross Domestic Produce

• Gross Dollar Product

• Gross Domestic Product

• Giant Domestic Product

What is Australia's current GDP rate

• 1.334 trillion USD

• 1.223 trillion USD

• 1.332 trillion USD

• 1.331 trillion USD

Which of the following goods is included in GDP?

• Dresses
• Screws used in a cruise missile
• Flour for making bread
• Cloth for making dresses

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

• True
• False

The _________________ the county's GDP, the better the standard of living.

• lower

• higher

• Entrepreneurship

• natural resources

Most countries try to maintain an inflation rate of ______ per year.

• One percent or less

• Two to three percent

• Four to five percent

• Six to seven percent

The _______ considers the weighted averages of a group of consumer goods and services.

• Consumer price index

• Aggregate supply

• Producer price index

• Aggregate demand

What is inflation?

• rise in all prices
• rise in most prices
• rise in some prices
• rise in general prices

What is Australia's current unemployment rate?

• 4.5%

• 4.6%

• 3.6%

• 5%

Select all possible causes of unemployment

• Weak GDP

• Outsourcing business operations

• Increased competition from overseas

• High GDP