What does GDP stand for and what does it measure?
Macro Unit 2 Summary (Old Version)- Measuring the Economy

Interactive Video
•
Business, Life Skills
•
11th Grade - University
•
Hard
Quizizz Content
FREE Resource
Read more
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Gross Domestic Product; measures the total value of goods and services produced by a country's citizens.
Gross Domestic Product; measures the total value of goods and services produced within a country.
General Domestic Product; measures the total value of goods and services consumed within a country.
Global Domestic Product; measures the total value of goods and services produced worldwide.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT included in GDP calculations?
Intermediate goods
Consumer spending
Final goods and services
Government spending
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the natural rate of unemployment?
The unemployment rate when there is no unemployment at all.
The unemployment rate when there is no cyclical unemployment.
The unemployment rate when there is no frictional unemployment.
The unemployment rate when there is no structural unemployment.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of unemployment is caused by economic downturns?
Cyclical unemployment
Structural unemployment
Frictional unemployment
Seasonal unemployment
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does CPI stand for and what does it measure?
Consumer Price Index; measures the average change in prices of exported goods.
Consumer Price Index; measures the average change in prices of imported goods.
Consumer Price Index; measures the average change in prices received by producers for goods and services.
Consumer Price Index; measures the average change in prices paid by consumers for goods and services.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the difference between nominal GDP and real GDP?
Real GDP includes only consumer goods, while nominal GDP includes all goods.
Nominal GDP includes only consumer goods, while real GDP includes all goods.
Real GDP is adjusted for inflation, while nominal GDP is not.
Nominal GDP is adjusted for inflation, while real GDP is not.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a cause of demand-pull inflation?
A decrease in government spending
A decrease in consumer demand
An increase in the money supply
An increase in production costs
Create a free account and access millions of resources
Similar Resources on Wayground
6 questions
Macro 2008 Form B FRQ #3- Real and Nominal GDP

Interactive video
•
11th Grade - University
6 questions
2018 Economic Year in Review

Interactive video
•
11th Grade - University
6 questions
Macro Unit 3, Question 8: Inflationary Gap and the Long Run

Interactive video
•
11th Grade - University
8 questions
Understanding Alternative Monetary Policy Tools

Interactive video
•
11th Grade - University
11 questions
Macro Unit 2 Summary (New Version)- Measuring the Economy

Interactive video
•
11th Grade - University
6 questions
Macro Unit 2 Intro: Measuring the Economy

Interactive video
•
11th Grade - University
11 questions
Market Failures, Taxes, and Subsidies: Crash Course Economics

Interactive video
•
11th Grade - University
11 questions
Macroeconomics: Crash Course Economics

Interactive video
•
11th Grade - University
Popular Resources on Wayground
25 questions
Equations of Circles

Quiz
•
10th - 11th Grade
30 questions
Week 5 Memory Builder 1 (Multiplication and Division Facts)

Quiz
•
9th Grade
33 questions
Unit 3 Summative - Summer School: Immune System

Quiz
•
10th Grade
10 questions
Writing and Identifying Ratios Practice

Quiz
•
5th - 6th Grade
36 questions
Prime and Composite Numbers

Quiz
•
5th Grade
14 questions
Exterior and Interior angles of Polygons

Quiz
•
8th Grade
37 questions
Camp Re-cap Week 1 (no regression)

Quiz
•
9th - 12th Grade
46 questions
Biology Semester 1 Review

Quiz
•
10th Grade