Inflation and GDP
Flashcard
•
Social Studies
•
10th - 11th Grade
•
Hard
Wayground Content
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13 questions
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1.
FLASHCARD QUESTION
Front
What is GDP?
Back
Gross Domestic Product
2.
FLASHCARD QUESTION
Front
GDP measures the:
Back
Total market value of all final goods and services produced in an economy in a given year.
3.
FLASHCARD QUESTION
Front
Business spending on physical capital, new homes, and inventories is counted in which component of GDP?
Back
investment
4.
FLASHCARD QUESTION
Front
High levels of GDP per capita indicate...
Back
Higher standard of living
5.
FLASHCARD QUESTION
Front
Tanks and roads belong in which part of the GDP formula?
GDP = C+I+G+(X-M)
Back
Government Expenditures
6.
FLASHCARD QUESTION
Front
Which of the following is the best measurement of a country's living standard? Nominal GDP, Real GDP, GDP per capita, Real GDP per capita
Back
Real GDP per capita
7.
FLASHCARD QUESTION
Front
What is inflation?
Back
rise in general prices
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