Economic Indicators Vocabulary Quiz

Gross Domestic Product (GDP)

• products used to make other goods, which are sold to consumers

• goods produced for use by consumers

• the monetary value of all final goods and services produced in a country in a given year

• the amount for which something can be sold; how much someone is willing to pay for an item

When GDP is calculated, what does it include?

• intermediate goods

• final goods

• imports

• exports

Which of these is a more developed country?

• The United States

• Malawi, Africa

Which of these countries has a higher standard of living?

• Sweden

• Haiti

Which of these is a final good?

• taco

• tortilla

• pork

• cilantro

Which of these is an intermediate good?

• cake

• cookies

• flour

• brownies

consumer expenditures

• monies spent on goods and services by individuals/households

• monies spent on goods and services by the government

• monies spent on goods and services by companies and businesses -- used for the "long haul"

investment expenditures

• monies spent on goods and services by individuals/households

• monies spent on goods and services by the government

• monies spent on goods and services by companies and businesses -- used for the "long haul"

fiscal expenditures

• monies spent on goods and services by individuals/households

• monies spent on goods and services by the government

• monies spent on goods and services by companies and businesses -- used for the "long haul"

Building roads and bridges in example of what kind of expenditure?

• consumer

• government

• investment