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WorksheetsGDP Review
Total questions: 15
Worksheet time: 8mins
What is the equation of GDP?
C + I + (X+N)
C + I + G
C + I + G + (X-N)
C + G + U + (X+N)
In the GDP equation, what does the 'C' stand for?
Consumer spending
Consumer income
Convoy
Consumer health
In the GDP equation, what does the 'I' stand for?
Intelligent spending
Investor spending
Incredible spending
Investment spending
In the GDP equation, what does the 'G' stand for?
Government taxes
Government spending
Government budget
Good Government
In the GDP equation, what does the 'X' stand for?
Extra Spending
Excellent
Exports
Extra Cool
In the GDP equation, what does the 'M' stand for?
Imports
Machines and Capital
Mal
Mixed economy
Which of the following is the best measurement of economic growth?
Nominal GDP
Real GDP
GDP per capita
Real GDP per capita
Which of the following is the best measurement of a country's living standard?
Nominal GDP
Real GDP
GDP per capita
Real GDP per capita
What is the total value of all final goods and services produced in the economy in a given year?
Unemployment rate
Supply and Demand
GDP
Communism
What is GDP divided by the size of the population?
Nominal GDP
GDP per capita
The labor force participation rate
GDP extra
What is the total value of all final goods and services produced in the economy calculated using the prices of a selected base year?
Nominal GDP
Real GDP per capita
Real GDP
GDP per capita
Which of the following would be included in the calculation of GDP?
Final goods
Intermediate goods
Second hand goods
Black market activity
Which country is at the top of the 'World Happiness Report' rankings?
Iceland
Denmark
Finland
Sweden
What does this calculate?
(Nominal GDP ÷ real GDP) x 100
Real GDP
The unemployment rate
GDP
The GDP deflator
If the GDP deflator is equal to 105, it means that...
GDP has decreased 5 percent
the inflation rate is 5 percent
GDP has increased 105 percent
the inflation rate is 105 percent
