Mr. Lee GDP and Growth

What does the term 'Aggregate' refer to in economics?

• Total

• Individual

• Specific

• Partial

Which of the following is an example of a macroeconomic concept?

• Choosing between Coke and Pepsi

• Consumer expenditures

• Deciding on a single product

• Personal budgeting

Fill in the blank: Economic growth is often measured by the increase in _______.

• GDP

• CPI

• Unemployment

• Interest rates

What is the first component in the flowchart titled 'Why Worry about GDP'?

• Employment

• Income

• Real GDP

• Inflation

According to the flowchart 'Why Worry about GDP?', which of the following is directly affected by Real GDP?

• A) Employment

• B) Income

• C) Inflation

• D) Savings

Which of the following activities is included in GDP?

• Legal business transactions

• Criminal activity

• Work in homes

• Underground economy

Is 'A parent that stays home to care for a baby' part of GDP?

• Yes

• No

Is 'The sale of a ten-year-old house' part of GDP?

• Yes

• No

Fill in the blank: 'Dinner at a restaurant' is ___ part of GDP.

• Yes

• No

The construction of an office building is part of GDP. True or False?

• True

• False