Gross Domestic Product

Gross Domestic Product

12th Grade

10 Qs

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Gross Domestic Product

Gross Domestic Product

Assessment

Quiz

Social Studies

12th Grade

Hard

Created by

MARISSA DECKER

Used 6+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does GDP stand for?

Global Development Plan

Government Debt Percentage

General Distribution Process

Gross Domestic Product

Answer explanation

GDP stands for Gross Domestic Product, which measures the total value of goods and services produced within a country. It is the correct choice.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does GDP per capita measure?

Value of all goods and services produced

Economic growth rate

Total value of the economy

Average income of the population

Answer explanation

GDP per capita measures the average income of the population, highlighting the correct choice.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT included in the GDP measurement?

Value of consumed factors of production

Value of all goods and services produced

Final goods and services

Double value of factors of production

Answer explanation

The value of consumed factors of production is not included in GDP measurement. GDP measures the value of all goods and services produced, including final goods and services, but not the value of consumed factors of production or the double value of factors of production.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of the Human Development Index (HDI)?

To calculate GDP per capita

To assess human development

To compare GDP between countries

To measure economic growth

Answer explanation

The purpose of the Human Development Index (HDI) is to assess human development.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main limitation of GDP as an economic indicator?

It does not measure economic growth

It does not reflect income inequality

It does not consider inflation

It does not account for exchange rates

Answer explanation

The main limitation of GDP as an economic indicator is that it does not reflect income inequality.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the range of HDI for developing countries?

1.0-1.5

0.35-0.75

0.75-1.0

0.0-0.35

Answer explanation

The range of HDI for developing countries is 0.35-0.75. This range represents the correct choice.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which country has the highest GDP per capita in the world?

United States

India

China

Qatar

Answer explanation

Qatar has the highest GDP per capita in the world.

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