Quiz 1 : Unit 1

Quiz 1 : Unit 1

12th Grade

22 Qs

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Quiz 1 : Unit 1

Quiz 1 : Unit 1

Assessment

Quiz

Social Studies

12th Grade

Hard

Created by

Alisha Mahajan

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22 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not a component of Gross Domestic Product (GDP)?

Government Spending

Net Exports

Savings

Consumption

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a component of Gross Domestic Product (GDP)?

Imports

Interest payments on government debt

Transfer payments from the government

All of the above

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not included in National Income (NI)?

Corporate profits

Interest income

Rental income

Depreciation

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of double counting?

Counting the value of a car both when it is sold and when it is resold later

Counting the value of a car both when it is produced and when it is sold

Counting the value of a car both when it is produced and when it is scrapped

None of the above

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a measure of the total income earned by a country's residents and businesses, regardless of where the production takes place?

Gross Domestic Product (GDP)

Gross National Product (GNP)

NFIA

Personal Income (PI)

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a transfer payment?

Social Security benefits

Wages earned by a factory worker

Profits earned by a corporation

Interest earned on a bank account

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a measure of the value of all final goods and services produced within a country's borders in a given period of time?

Gross Domestic Product (GDP)

Gross National Product (GNP)

National Income (NI)

Personal Income (PI)

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