GDP Study Guide

GDP Study Guide

12th Grade

36 Qs

quiz-placeholder

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GDP Study Guide

GDP Study Guide

Assessment

Quiz

Business

12th Grade

Practice Problem

Easy

Created by

Kelsey Borys

Used 1+ times

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36 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

GDP is measured by which of the following methods and what does it tell us about the economy?

By calculating the total value of goods and services produced, indicating the economic health and size.

By measuring the total population, indicating the demographic trends.

By assessing the total land area, indicating the geographical size.

By evaluating the total number of businesses, indicating the business density.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which country has a better trade balance?

Country A

Country B

Country C

Country D

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Considering the sales and imports/exports, which country has a higher total economic activity?

Country A

Country B

Country C

Country D

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Whose economy performed better? Why?

Country A's economy performed better because of higher GDP growth.

Country B's economy performed better due to lower unemployment rates.

Country C's economy performed better because of increased exports.

Country D's economy performed better due to technological advancements.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

GDP is:

Gross Domestic Product

Global Domestic Product

General Domestic Product

Gross Development Product

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What kinds of expenditures count towards GDP? What counts as a negative?

Consumption, Investment, Government Spending, Net Exports; Imports count as a negative

Only Consumption and Investment; Government Spending and Net Exports count as a negative

Consumption, Government Spending, and Net Exports; Investment counts as a negative

Only Government Spending and Net Exports; Consumption and Investment count as a negative

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

It is important to measure the success of an economy because:

it helps in assessing the overall health and growth of a nation.

it is a requirement by international bodies.

it is a tradition followed by all countries.

it is a way to compare with other economies.

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