Inflation and GDP

Front

What is GDP?

Back

Gross Domestic Product

Front

GDP measures the:

Back

Total market value of all final goods and services produced in an economy in a given year.

Front

Business spending on physical capital, new homes, and inventories is counted in which component of GDP?

Back

investment

Front

High levels of GDP per capita indicate...

Back

Higher standard of living

Front

Tanks and roads belong in which part of the GDP formula?
GDP = C+I+G+(X-M)

Back

Government Expenditures

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

Front

What is inflation?

Back

rise in general prices

Front

The _______ considers the weighted averages of a group of consumer goods and services.

Back

Consumer price index

Front

Which of the following causes of inflation is often described as “too much money chasing too few goods”?
Options: Demand-pull inflation, Cost-push inflation, Demand-push inflation, Cost-pull inflation

Back

Demand-pull inflation

Front

What causes cost-push inflation?

Back

A rise in production costs passed on to consumers