GDP Quiz

The purchase of a new oven would affect which variable of the GDP formula?

• C - Consumer Expenditures

• X - Exports

• G - Government Purchases

• I - Investment

Which economic goal does GDP help us measure?

• Growth

• Equity

• Security

• Price Stability

Which of these will affect the GDP of the country for the current year?

• Mr. Lawrence buys a used car

• Joseph wins a bet against Jayden

• Ari sells Jaye her old laptop since she got a new one

• SofaMax, a furniture store in Athens, Georgia makes 300,000 sofas that are purchased by customers overseas

Which would be considered when calculating U.S. GDP?

• Clothes made in Vietnam at a factory owned by an Atlanta-based company

• A new Toyota manufactured in Chicago, Illinois

• A case of Coca-Cola made at a plant based in Rome, Italy

• An old PS5 that your friend is reselling

What do we call each individual's portion of GDP?

Which of the following is NOT added in the U.S.'s GDP?

• the sale of final goods and services produced in the country

• everyday consumer purchases of nondurable goods

• purchases made by customers overseas buying American-made products

• used or old goods that were purchased before

If a rice producer discovers that its rice stores are $5,000 more than they were the year before, which variable of GDP would this be counted under?

• C - Consumer Expenditures

• I - Investment

• G - Government Purchases

• (X-M) - Net Exports

Which variable of the GDP formula would be affected if IHOP buys more pans to cook their food in?

• X - Exports

• I - Investment

• C- Consumer Expenditures

• G - Government Spending

What is the GDP formula?

The Gross Domestic Product measures the value of __________________.

• all intermediate goods sold in a specific country

• all goods and products sold globally during a specific year

• all final products produced in a country during a specific year

• all products produced in a country during a specific year