Economic Growth Rate

What is the Gross Domestic Product (GDP)?

• The total value of goods and services imported by a country

• The total value of goods and services produced abroad

• The total value of goods and services produced within a country in one year

• The total value of goods and services consumed within a country

• The total value of goods and services invested in a country

What does household spending on goods and services reflect in GDP?

• Investment

• Government Expenditure

• Consumption

• Exports

• Imports

The difference between total exports and total imports is called?

• Bruto Exports

• Net Exports

• Gross GDP

• Net GDP

• Net Consumption

If a country's economic growth rate is 6.66%, then this means?

• The country's economy is contracting

• The country's economy is stagnating

• The country's economy is growing

• The country's GDP is decreasing

• Unemployment is increasing

What happens if the result of calculating the economic growth rate is negative?

• The economy is growing

• The economy is contracting

• The economy is stagnating

• Exports are increasin

• Household consumption is increasing

The component of GDP that includes infrastructure development and civil servant salaries is?

• Household Consumption

• Business Investment

• Government Spending

• Net Exports

• Imports

An increase in household consumption is usually triggered by?

• An increase in taxes

• A decrease in income

• Increase in income and social assistance

• A decrease in interest rates

• Increase in inflation

If the result of calculating the economic growth rate is zero, then the economy is?

• Growing

• Contracting

• Stagnant

• Declining

• Fluctuating

The rate of economic growth can be calculated using the formula ?

• (Current Year GDP - Previous Year GDP) / Previous Year GDP x 100%

• (Current Year GDP + Previous Year GDP) / Current Year GDP x 100%

• (Previous Year GDP - Current Year GDP) / Current Year GDP x 100%

• (Current Year GDP / Previous Year GDP) x 100%

• (Current Year GDP - Net Exports) / Previous Year GDP x 100%

Negative net exports indicate that?

• Exports are greater than imports

• Imports are greater than Exports

• Household consumption is declining

• Real GDP decreases

• Government spending increases