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WorksheetsGDP Video Recap
Total questions: 8
Worksheet time: 4mins
Name
Class
Date
1.
Is this counted in the GDP of the US?
The federal government purchases a new submarine for the US Navy.
a)
Yes
b)
No
2.
Is this counted in the GDP of the US?
Your parents ask you to babysit your two younger siblings for the night.
a)
Yes
b)
No
3.
In which part of the GDP calculation does this fit?
You spend $15 at AMC to see the latest Avengers movie.
a)
Consumer spending
b)
Government spending
c)
Investment spending
d)
Net exports
4.
In which part of the GDP calculation does this fit?
The US military spends $5 billion on five new helicopters.
a)
Consumer spending
b)
Government spending
c)
Investment spending
d)
Net exports
5.
GDP is calculated by
a)
adding up the cost of goods used in producing the item
b)
subtracting all costs from total revenue
c)
adding consumption + investment +government spending+ (exports sold - imports bought)
6.
What does Per Capita Mean?
a)
Per House
b)
Per Object
c)
Per Worker
d)
Per Person
7.
What type of GDP is calculated with the current year's prices?
a)
Nominal GDP
b)
Real GDP
c)
GDP per capita
8.
How can GDP increase over time?
a)
Production
b)
Low costs
c)
Inflation
d)
Deflation
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