Understanding GDP and Unemployment Concepts

Understanding GDP and Unemployment Concepts

Assessment

Interactive Video

Business, Social Studies, Economics

9th - 12th Grade

Practice Problem

Hard

Created by

Patricia Brown

FREE Resource

The video tutorial covers measuring economic performance using GDP and types of unemployment. GDP is the market value of all final goods and services produced in a nation, calculated by adding consumption, government spending, investments, and net exports. Consumer spending is the largest component. Unemployment is categorized into frictional, structural, and cyclical types, each with distinct causes and characteristics. The tutorial explains how these economic indicators are used to assess a nation's economic health.

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does GDP stand for in economic terms?

Gross Domestic Product

Gross Development Product

Global Domestic Product

General Domestic Production

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a component of GDP?

Consumer Spending

Stock Market Performance

Government Spending

Investment

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the largest component of GDP in terms of dollar amount?

Government Spending

Consumer Spending

Investment

Net Exports

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of government spending?

Buying groceries

Purchasing a movie ticket

Building roads

Paying college tuition

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does investment refer to in the context of GDP?

Spending on consumer goods

Government expenditure

Buying new capital and facilities

Purchasing stocks and bonds

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How are net exports calculated?

Total imports divided by total exports

Total exports plus total imports

Total exports minus total imports

Total imports minus total exports

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT included in GDP calculations?

New car sales

Second-hand goods

Government spending

Consumer spending

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