Understanding GDP and Economic Indicators

What does GDP stand for?

• Gross Domestic Product

• Global Domestic Product

• General Domestic Product

• Gross Development Product

Which of the following is NOT a method to calculate GDP?

• Output Approach

• Investment Approach

• Income Approach

• Expenditure Approach

In the expenditure approach, what does 'C' represent?

• Corporate Spending

• Capital Spending

• Country Spending

• Consumer Spending

How does GDP growth affect government spending?

• It decreases government spending

• It only affects private sector spending

• It increases government spending

• It has no effect on government spending

Which of the following is a limitation of GDP?

• It does not reflect income distribution

• It accounts for environmental damage

• It includes the underground economy

• It measures the standard of living

What does GDP per capita measure?

• GDP of the largest city

• GDP per person

• Total GDP of a country

• GDP growth rate

What does GNI stand for?

• Gross National Income

• General National Income

• Gross National Investment

• Global National Income

Which index includes life expectancy and education as factors?

• GDP

• GNI

• HDI

• GDP per capita

What is the HDI scale range for very high human development?

• 0.7 to 0.8

• Below 0.5

• 0.5 to 0.7

• Above 0.8

Which of the following is NOT an alternative to GDP?

• GNI

• GDP per capita

• GDP growth rate

• HDI