Finance Unbox-ED (INR) - Grade 3-5 - Session 002 - Quiz 2

What does GDP stand for?

• Goods Domestic Product

• Gross Domestic Product

• General Domestic Product

• Gross Demand Product

What is the GDP of a country?

• Demand for all the goods and services in a country in one year

• Supply of all the goods and services in a country in one year

• Quantities of all the goods and services produced by a country in one year

• Market value of all the goods and services produced by a country in one year

Select all the statements that are true

• USA has the highest GDP by value

• Germany has the highest GDP by value

• India has had high GDP growth rate over the last decade

• Japan has had high GDP growth rate over the last decade

Select all the statements that are true

• GDP tells us how large the economy of a country is

• GDP increase and decrease tell us how well the economy of a country is doing

• Increase in GDP is a good thing and decrease in GDP is a bad thing

• All of the above

What is GDP decline or decrease called?

• Deflation

• Inflation

• Recline

• Recession