MACRO Part 1

Which of the following is NOT one of the key indicators for measuring economic health?

• Price Stability

• Unemployment Rate

• Number of Imports

• Economic Growth

What is the best method for measuring economic growth?

• Inflation Rates

• Unemployment Rates

• Gross Domestic Product

• Discount Rates

Economist use GDP to measure a country ____ over a one year period?

• Jobs

• Productivity

• Money

• Resources

Total market value of all final goods and services produced within a nations borders in a one year period.

• CPI

• Economic growth

• FOP's

• GDP

A Higher GDP per person indicates.....

• A higher unemployment rate

• A lower standard of living

• A lower quality of life

• A higher standard of living

•Products that are used in the production process to make other goods, which are ultimately sold to consumers.

• Intermediate goods

• Substitute goods

• Inferior goods

• Normal goods

GDP adjusted for inflation.

• Nominal GDP

• Inflated GDP

• Real GDP

• Intermediate GDP

The total value of all goods and services

• GDP

• Nominal GDP

• Real GDP

• Inflation

Economics that deals with the performance, structure, behavior, and decision-making of a nation’s economy as a whole.

• Microeconomics

• GDP

• Macroeconomics

• Economics

What is your current feeling on what you know about GDP and why it's important?

• I'm Good!

• I "think" I understand GDP

• Not too sure!

• I don't understand any of this?!?!