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WorksheetsGDP
Total questions: 16
Worksheet time: 8mins
Name
Class
Date
1.
GDP is measured in a ______ basis.
a)
Quarterly
b)
Yearly
c)
Monthly
d)
Daily
2.
True or False. GDP is the total value of goods and services produced by a nation.
a)
True
b)
False
3.
Which is a final product in a bakery?
a)
Cake
b)
Flour
c)
Eggs
d)
Sugar
4.
True or False. GDP doesn't includes goods and services produced by foreign companies in the US.
a)
True
b)
False
5.
Which is NOT a part of the formula used to calculate GDP?
a)
Consumption Expenditures
b)
Investment Expenditures
c)
Imports and Exports
d)
Government Taxes
6.
Cars, TVs, computers belong in which part of the GDP formula?
GDP = C+I+G+(X-M)
GDP = C+I+G+(X-M)
a)
Consumption Expenditures
b)
Investment Expenditures
c)
Government Expenditures
d)
Net Imports
7.
An airline buying a plane belong in which part of the GDP formula?
GDP = C+I+G+(X-M)
GDP = C+I+G+(X-M)
a)
Consumption Expenditures
b)
Investment Expenditures
c)
Government Expenditures
d)
Net Imports
8.
Tanks and roads belong in which part of the GDP formula?
GDP = C+I+G+(X-M)
GDP = C+I+G+(X-M)
a)
Consumption Expenditures
b)
Investment Expenditures
c)
Government Expenditures
d)
Net Imports
9.
What does X represent in calculating net imports?
X-M
X-M
a)
Imports
b)
Exports
c)
Expenditures
d)
None of the Above
10.
What does M represent in calculating net imports?
X-M
X-M
a)
Imports
b)
Exports
c)
Taxes
d)
None of the Above
11.
GDP per Capita is GDP divided by population.
a)
True
b)
False
12.
GDP per capita tells you what?
a)
Living standard
b)
Income taxes
c)
Property taxes
d)
Projected growth rate
13.
Which type of GDP is adjusted for price changes?
a)
Real GDP
b)
Nominal GDP
14.
In order to improve the standard of living, the economy must grow as fast as the population.
a)
True
b)
False
15.
Which is an automatic stabilizer?
a)
Unemployment Insurance
b)
The US Military
c)
The Department of Education
d)
Car Insurance
16.
Do lower taxes allow businesses to produce more?
a)
Yes
b)
No
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