Understanding GDP and Inflation Concepts

What is the formula for calculating GDP per capita?

Which of the following is a better measure for comparing the economic performance of different countries?

• Nominal GDP

• GDP per capita

• Total exports

• Inflation rate

What does HDI stand for in economic terms?

• Human Development Index

• Human Dependency Index

• Health Development Indicator

• High Development Index

What does GDP per capita PPP account for that nominal GDP per capita does not?

• Population size

• Inflation rate

• Purchasing power differences

• Exchange rate fluctuations

How is economic growth generally defined?

• Increase in the inflation rate

• Increase in the unemployment rate

• Increase in the real GDP over time

• Increase in the nominal GDP over time

Which of the following is NOT a component of the Human Development Index (HDI)?

• Life expectancy

• Education level

• Inflation rate

• Gross National Income per capita

If a country's real GDP is $5 trillion and its population is 250 million, what is its GDP per capita?

• $20,000

• $25,000

• $15,000

• $30,000

If a country's real GDP is $5 million and its population is 10000, what is its GDP per capita?

• $1000
• $250
• $750
• $500

Which of the following best describes the concept of GDP per capita PPP?

• GDP per capita adjusted for inflation

• GDP per capita adjusted for population size

• GDP per capita adjusted for purchasing power parity

• GDP per capita adjusted for exchange rates

What is the primary purpose of comparing GDP across countries?

• To determine the population size

• To assess economic performance and living standards

• To measure inflation rates

• To evaluate political stability