Gross Domestic Product
Authored by John Robinson
Social Studies
12th Grade
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15 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is one limitation of GDP?
It does not include intermediate goods.
It does not show how the economy is doing over time.
It does not include non-durable goods
It does not measure health and happiness
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The total dollar value of all final goods and services produced within the country’s border in a given year after inflation is taken out of the data.
Nominal GDP
GDP/capita
Gross GDP
Real GDP
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The village of Menomonee Falls purchases a new fire truck. Where would this show up in GDP formula?
Consumption
Investment
Government Spending
Exports-Imports
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
You buy some Toblerone chocolate manufactured in Switzerland. Where would this show up in the GDP formula?
Consumption
Investment
Government Spending
Exports-Imports
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The U.S. government agency NASA contracts with a firm in Alabama to provide parts for the space station. Where would this show up in the GDP formula?
Consumption
Investment
Government Spending
Exports-Imports
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Costco builds a new store in Menomonee Falls, Wisconsin. Where would this show up in the GDP formula?
Consumption
Investment
Government Spending
Exports-Imports
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
John went to Sports Clips and purchased a haircut. Where would this show up in the GDP formula?
Consumption
Investment
Government Spending
Exports-Imports
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