WorksheetsNominal, Real & GDP Deflator
Total questions: 17
Worksheet time: 18mins
The Gross Domestic Product measured in current prices describes what?
Real GDP
Current GDP
Nominal GDP
Total GDP
How do countries use real GDP to calculate growth?
They calculate the % change in real GDP from one period to the next
They calculate the difference in GDP from the past two calendar years
They calculate the sum of GDP from the past two calendar years
They compare percentages to other countries and calculate the country's ranking
Real GDP is obtained by
Nominal GDP minus GDP deflator.
Nominal GDP divided by GDP deflator multiplied by 100.
Nominal GDP multiplied by price level.
Nominal GDP divided by CPI.
According to the data above, in which year was the real gross domestic product (GDP) the largest?
[2 Minutes for this question]
1980
1990
2000
2010
2015
nominal GDP is same as
real GNP
GNP less net factor income from abroad
GDP at constant prices
GDP at current prices
real GDP is same as
nominal GNP
GDP at current prices
GDP at constant prices
GNP less net factor income from abroad
Real GDP evaluates _____ production at _____ prices.
current; past
past; current
past; past
current; current
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
What is GDP divided by the size of the population?
Nominal GDP
GDP per capita
The labor force participation rate
GDP deflator
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 is the best measurement of economic growth?
Nominal GDP
Real GDP
GDP per capita
Real GDP per capita
Built new hospitals and roads in Sabah belong in which part of the GDP formula?
GDP = C+I+G+(X-M)
Consumption Expenditures
Investment Expenditures
Government Expenditures
Net Imports
Each individual under the B40 group in Sandakan, Sabah can receive up to RM300 a month on food stamps. Is this included in government spending?
Yes - Government spending
Yes - Transfer payment
No - Intermediate Goods
No - Transfer payment
