GDO Quizziz

When GDP is steadily increasing, it usually means the economy is producing at a ____________________ capacity over time.

• higher

• lower

• constant

• decreasing

What is included in GDP? GDP Formula: ____________________ + I + G + NX.

• C

• M

• X

• T

Consumption (C): the prices of all _______________ goods and services purchased by consumers; biggest portion of GDP.

• final

• intermediate

• raw

• unfinished

Note: ____________________ goods are NOT included in GDP. These are goods that go into a finished product, such as rubber going into car tires or graphite going into a pencil.

• intermediate

• final

• capital

• consumer

money businesses have spent on ____________________ goods (buildings, machines, etc.) AND any unsold goods that were produced that year.

The buying and selling of ____________________ is not included in GDP because the business spends money it makes from the stock market on investing in their growth.

• stocks

• real estate

• bonds

• commodities

Does not include ____________________ as that transfers money from one check to another.

• transfer payments

• bank deposits

• cash withdrawals

• credit card payments

Net Exports Minus Imports (NX): the value of all goods and services ________________ minus all goods and services ________________ (brought into the country).

Nominal = ________________ GDP (using current prices).

• Nominal

• Real

• Adjusted

• Inflation-adjusted

It does not give a full picture of a nation’s ________________ or indicate how evenly income is distributed.

• economy

• geography

• culture

• politics