GDP Quiz

If I export $1000 worth of goods and services and import $500, my net exports equals _________

Calculated in GDP? A Social Security check from the government to a retired store manager.

• Yes

• No

Which component of GDP? Whirlpool makes a washer in Michigan and sells it to a Chinese consumer.

• Consumption

• Government spending

• Investment (in physical capital)

• Net Exports

What does the "I" stand for in the expenditures model equation?

• Intermediate goods

• Inclusive demand

• Investments

• Initial Supply

Choose the correct order

According to the image, which letters represents

Peak, Trough, Expansion, Contraction?

• D,E,A,C

• E,C,A,D

• D,A,C,E

• C,D,E,A

What is the term used to account for inflation when calculating GDP?

• Real

• Weighted

• Consumer Price Index (CPI)

• GDP per capita

When Amazon buys a new delivery truck fleet, what component of the GDP equation is this?

• C

• I

• G

• NX

Worried about a recession, people begin saving more money.

How is GDP impacted?

• GDP decreases

• GDP increases

• GDP does not change

The study of the economy as a whole--the "big picture"--is called

• Microeconomics

• Mercantilism

• Macroeconomics

• Macronutrition

Calculated in GDP? Income received from the sale of Tesla stock.

• Yes

• No