
GDP in Macroeconomics
Authored by Jennifer McCall
Social Studies
10th - 12th Grade
Used 108+ times

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12 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is GDP?
Gosh Dang Problem
Gross Domestic Product
Game Domination People
Gross Directive Program
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The study of the economy as a whole--the "big picture"--is called
Microeconomics
Mercantilism
Macroeconomics
Macronutrition
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT TRUE of GDP?
It considers the market value of both intermediate and final goods and services.
It includes the market value of all final goods and services.
It includes all final goods and services produced in the nation within a set time period.
Consumer spending is a big factor in the expenditure model of GDP.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the "I" stand for in the expenditures model equation?
Intermediate goods
Inclusive demand
Investments
Initial Supply
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The government hires contractors to build and pave highways. Is this included in GDP within the expenditures model?
YES
NO
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Eating at a restaurant is an example of ________ spending on _____ goods.
government; durable
investment; durable
consumer; non-durable
export; non-durable
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the (X-M) mean in the expenditure model for GDP?
Income-Taxes
Taxes-Imports
Spending--Exports
Exports-Imports
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