NEW
Font size
S
M
L
XL
WorksheetsGDP Quiz 1.1
Total questions: 10
Worksheet time: 5mins
Name
Class
Date
1.
A shoemaker increases its bulk purchases of leather to keep up with demand. Is this included in GDP?
a)
Yes - Investment
b)
Yes - Government Spending
c)
No - Intermediate Goods
d)
No - used item
2.
The federal government is expected to spend $3.95 trillion this year. Will this be counted in GDP?
a)
YES
b)
NO
3.
Mark always changes his own oil. Is this effort counted in GDP?
a)
No - Black Market
b)
No - Non-market Activity
c)
No - Unreported Income
d)
No - Purely financial transaction
4.
Lauren coaches softball and gets paid in cash each week. Is this included in GDP?
a)
Yes - Consumer Spending
b)
Yes - Investment
c)
No - Underground Economy
d)
No - Purely financial transaction
5.
Ms. Eckert just bought a new watch. Does this count in GDP?
a)
Yes
b)
No
6.
Each individual on food stamps in Delaware can receive up to $194 a month. Is this included in government spending?
a)
Yes - Government spending
b)
Yes - Consumer Spending
c)
No - Intermediate Goods
d)
No - Purely financial Transaction
7.
A shoe produced in South Korea and sold in the U.S.
a)
Included in U.S. GDP
b)
Included in South Korea GDP
c)
Included in Canadian GDP
8.
What type of GDP is calculated with the current year's prices?
a)
Nominal GDP
b)
Real GDP
c)
GDP per capita
9.
What type of GDP is calculated with the current year's prices?
a)
Nominal GDP
b)
Real GDP
c)
GDP per capita
10.
High levels of GDP per capita indicate...
a)
Higher levels of happiness
b)
Higher standard of living
c)
Equal levels of wealth
d)
Self-sufficient communities
Reset
