
Quiz on Output and Growth
Authored by Muhammad Salman
Other
10th Grade

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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the total value of output of goods and services produced in an economy called?
National income
National output
National expenditure
Gross domestic product
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT included in the income measure of output?
Wages
Rents
Transfer payments
Profits
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does GDP stand for?
General Development Product
Gross Domestic Product
General Domestic Product
Gross Development Product
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the formula for calculating GDP per head?
Total output divided by total income
Total income divided by total population
Total GDP divided by total population
Total population divided by total GDP
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main difference between nominal GDP and real GDP?
Real GDP is always higher than nominal GDP
Nominal GDP includes inflation, real GDP does not
Nominal GDP is always higher than real GDP
Real GDP includes inflation, nominal GDP does not
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a component of GDP?
Government spending
Transfer payments
Private donations
Foreign aid
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is one way to achieve long-term economic growth?
Decreasing exports
Reducing taxes
Increasing government spending
Investing in new capital goods
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