GDP Study Guide
Authored by Kelsey Borys
Business
12th Grade
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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