GDP & Unemployment

Which of the following would NOT be counted in the US's GDP?

• A used car your grandfather sold you

• You buy a new pair of shoes online

• A business buys tires to resell

• A city government's spending on a new park

Which of the 4 categories of GDP would this scenario fit in to?

A mechanic fixes a car transmission

• Consumer expenditure

• Net exports

• Government spending

• Investment

Which of the 4 categories of GDP does this scenario fall into?

A business purchases computer software and tablets for their employees

• Consumer expenditure

• Investments

• Government spending

• Net exports

Which of the 4 categories of GDP does this scenario fall into?

A local library purchases new audiobooks

• Government spending

• Net exports

• Consumer expenditure

• Investments

Which of the following is NOT a category of GDP?

• Government spending

• Domestic labor

• Investment

• Net exports

The economy of Fruitland only produces 2 goods. Calculate their GDP using the following information. This year, they produced 25 bushels of apples and 37 bushels of pears. If each bushel sells for $100, what is Fruitland's GDP?

• 2500

• 1200

• 6200

• 3700

Which of the following would be counted in the US's GDP?

• A car produced in Korea by an American car company

• Your aunt pays you to babysit your cousin

• A French company based in the US makes frozen pastries

• A business buys ingredients to make canned soups

An increase in GDP is an indicator of _______________________

Since GDP only calculates the value of final goods and services, these interactions take place in the _________ market

How is real GDP different than GDP?

• real GDP counts products produced overseas

• real GDP doesn't subtract imports

• real GDP is adjusted for price changes

• GDP is only counted for a year period, real is calculated for a decade