
Measuring the Economy
Authored by Berryl-Lydia (10)
Other
11th - 12th Grade

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25 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec ⢠1 pt
what is nominal gross domestic product (NGDP)
total money value of all final goods/services produced within a country in a year
total value of money produced within a country in a year
total value of things produced within a country in a year
2.
MULTIPLE CHOICE QUESTION
30 sec ⢠1 pt
what is RGDP
normal GDP adjusted for stagflation
normal GDP adjusted for recession
normal GDP adjusted for inflation
3.
MULTIPLE CHOICE QUESTION
30 sec ⢠1 pt
what is RGDP/captia
measures the growth of the economy
measures the standard of living
measures the population
4.
MULTIPLE CHOICE QUESTION
30 sec ⢠1 pt
what doesn't count in GDP
substitute goods, new goods, financial transactions, intermediate goods, illegal goods
imports goods, resold goods, financial transactions, intermediate goods, illegal goods
imports goods, new goods, financial transactions, legal goods
5.
MULTIPLE CHOICE QUESTION
30 sec ⢠1 pt
what is depression
long term recession
long term inflation
long term stagflation
6.
MULTIPLE CHOICE QUESTION
30 sec ⢠1 pt
what is recession
increase in RGDP also with more production in 6 months
increase in RGDP with less production in 6 months
decrease in RGDP also with less production in 6 months
7.
MULTIPLE CHOICE QUESTION
30 sec ⢠1 pt
what is inflation
general decrease in average price level of the economy
general increase in average price level of the economy
general increase in average production level of the economy
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