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MacroEconomics 3

Authored by Abdulaziz Ashurov

Professional Development

University

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MacroEconomics 3
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14 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Media Image

Which of the following is NOT a component of GDP?

Consumption

Investment

Imports

Government Spending

Answer explanation

Government Spending is not a component of GDP, as it represents the expenditure of the government and is not included in the calculation of GDP.

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is the primary measure of economic growth in a country?

GDP per capita

Nominal GDP

Real GDP

Gross National Product

Answer explanation

The primary measure of economic growth in a country is Real GDP, which accounts for inflation and reflects the actual value of goods and services produced.

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is the difference between nominal GDP and real GDP?

Nominal GDP includes inflation while real GDP does not

Real GDP includes inflation while nominal GDP does not

Nominal GDP is adjusted for population while real GDP is not

Real GDP is adjusted for population while nominal GDP is not

Answer explanation

Nominal GDP includes inflation while real GDP does not, making it the correct choice.

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following is considered an investment in the context of GDP?

Purchasing stocks and bonds

Buying groceries

Paying for healthcare services

Spending on entertainment

Answer explanation

Purchasing stocks and bonds is considered an investment in the context of GDP because it represents the acquisition of financial assets with the expectation of future income or profit.

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is the formula for calculating GDP per capita?

GDP per capita = Real GDP / Population

GDP per capita = Nominal GDP / Population

GDP per capita = Real GDP * Population

GDP per capita = Nominal GDP * Population

Answer explanation

The formula for calculating GDP per capita is GDP per capita = Nominal GDP / Population.

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which sector contributes the most to GDP in most developed countries?

Agriculture

Industry

Services

Mining

Answer explanation

In most developed countries, the services sector contributes the most to GDP, including activities such as retail, education, healthcare, and finance.

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which country has the highest nominal GDP?

China

Japan

United States

Germany

Answer explanation

The United States has the highest nominal GDP among the given countries.

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