Economics - GDP

Which of the following would NOT be counted in the US's GDP?

• A used car your grandfather sold you

• You buy a new pair of shoes online

• A business buys tires to resell

• A city government's spending on a new park

Which of the 4 categories of GDP does this scenario fall into?

A business purchases computer software and tablets for their employees

• Consumer expenditure

• Investments

• Government spending

• Net exports

Which of the 4 categories of GDP would this scenario fit in to?

A mechanic fixes a car transmission

• Consumer expenditure

• Net exports

• Government spending

• Investment

Which of the 4 categories of GDP does this scenario fall into?

A business purchases computer software and tablets for their employees

• Consumer expenditure

• Investments

• Government spending

• Net exports

Which of the 4 categories of GDP does this scenario fall into?

A local library purchases new audiobooks

• Government spending

• Net exports

• Consumer expenditure

• Investments

Which of the following is NOT a category of GDP?

• Government spending

• Domestic labor

• Investment

• Net exports

Which is a final product in a bakery?

• Cake
• Flour
• Eggs
• Sugar

Cars, TVs, computers belong in which part of the GDP formula?
GDP = C+I+G+(X-M)

• Consumption Expenditures
• Investment Expenditures
• Government Expenditures
• Net Imports

What does M represent in calculating net imports?
X-M

• Imports
• Exports
• Taxes
• None of the Above

What does X represent in calculating net imports?
X-M

• Imports
• Exports
• Expenditures
• None of the Above