Free Printable Gross domestic product GDP

Free Printable Worksheets

Worksheets

Gross domestic product GDP

Total questions: 40

Worksheet time: 30mins

Name

Class

Date

1.

What type of GDP is calculated with the current year's prices?

a)

Nominal GDP

b)

Real GDP

c)

GDP per capita

2.

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

3.

Expectant parents buy supplies for the nursery. Would this be included in GDP?

a)

Yes - Consumer Spending

b)

Yes - Investment

c)

No - Intermediate goods

d)

No - Non-market activity

4.

The trade in exotic animals being illegally sold as pets is a multi-billion-dollar-a-year industry. Is this included in GDP?

a)

Yes - Consumer spending

b)

Yes - Government Spending

c)

No - Underground Economy

d)

No - Non-market activity

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.

How does investment in capital goods by companies help a country increase its GDP?

a)

The GDP of a country goes down when companies make more money

b)

Companies that invest in capital goods are able to provide a better place for their workers to work

c)

Highly trained workers help the company be more profitable by finding ways to help the company work better.

d)

When a company invests in capital, it can produce more goods at a better price and increase the profit that it makes.

7.

Which is an example of investment in human capital?

a)

trucks

b)

factories

c)

education

d)

highways

8.

Dover Downs will sell millions of dollars of NASCAR merchandise on race weekend. Will this be included in GDP?

a)

Yes - Investment

b)

Yes - Consumer Spending

c)

No - used items

d)

No - intermediate goods

9.

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

10.

A Chik-fil-A milkshake today costs $2.75. The Camden location sold 5,000,000 this year. In 1961, it cost $0.80 and they sold 2,000,000. How do I find the nominal GDP for Chik-fil-A milkshakes in 1961?

a)

2.75 x 5,000,000

b)

.80 x 2,000,000

c)

.80 x 5,000,000

d)

2.75 x 2,000,000

11.

What does Per Capita Mean?

a)

Per Household

b)

Per Object

c)

Per Worker

d)

Per Person

12.

The Income Approach of Calculating GDP includes...

a)

All spending on final products in the year.

b)

All Income made from selling all final goods.

c)

All costs on all products.

d)

The ammount of people involved in production.

13.

Is this counted in the GDP of the US?

Cars made by a Japanese company in California.

a)

Yes

b)

No

14.

Is this counted in the GDP of the US?

Cars made by a US company in South Korea.

a)

Yes

b)

No

15.

Is this counted in the GDP of the US?

The materials (lumber, cement, bricks) used to build a house.

a)

Yes

b)

No

16.

Is this counted in the GDP of the US?

A new home that was recently built.

a)

Yes

b)

No

17.

Is this counted in the GDP of the US?

A farmer's purchase of a new tractor.

a)

Yes

b)

No

18.

Is this counted in the GDP of the US?

A plumber's purchase of a two-year-old truck from Craigslist.

a)

Yes

b)

No

19.

Is this counted in the GDP of the US?

The services of a mechanic in fixing the radiator on his own car.

a)

Yes

b)

No

20.

Is this counted in the GDP of the US?

Willy's Mexican Grill purchases new fryers for their chips.

a)

Yes

b)

No

21.

Is this counted in the GDP of the US?

The federal government purchases a new submarine for the US Navy.

a)

Yes

b)

No

22.

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

23.

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

24.

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

25.

In which part of the GDP calculation does this fit?

The local taxi service purchases new vehicles for the

company.

a)

Consumer spending

b)

Government spending

c)

Investment spending

d)

Net exports

26.

what does GDP stand for:

(a)

27.

Which of the following are NOT in GDP:

a)

Secondhand Sales

b)

Retail Service

c)

Intermediate Goods

d)

Illegal Products

e)

all

28.

What can be used to measure standard of living?

a)

GDP

b)

GNP

c)

CPI

d)

PPI

e)

GDP per capita

29.

Which is a final product in a bakery?

a)

Cake

b)

Flour

c)

Eggs

d)

Sugar

30.

Cars, TVs, computers belong in which part of the GDP formula?
GDP = C+I+G+(X-M)

a)

Consumption Expenditures

b)

Investment Expenditures

c)

Government Expenditures

d)

Net Imports

31.

An airline buying a plane belong in which part of the GDP formula?
GDP = C+I+G+(X-M)

a)

Consumption Expenditures

b)

Investment Expenditures

c)

Government Expenditures

d)

Net Imports

32.

Tanks and roads belong in which part of the GDP formula?
GDP = C+I+G+(X-M)

a)

Consumption Expenditures

b)

Investment Expenditures

c)

Government Expenditures

d)

Net Imports

33.

What does X represent in calculating net imports?
X-M

a)

Imports

b)

Exports

c)

Expenditures

d)

None of the Above

34.

What does M represent in calculating net imports?
X-M

a)

Imports

b)

Exports

c)

Taxes

d)

None of the Above

35.

What type of GDP is calculated with the current year's prices?

a)

Nominal GDP

b)

Real GDP

c)

GDP per capita

36.

Expectant parents buy supplies for the nursery. Would this be included in GDP?

a)

Yes - Consumer Spending

b)

Yes - Investment

c)

No - Intermediate goods

d)

No - Non-market activity

37.

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

38.

GDP per capita is found by dividing a country's GDP by it's

a)

population.

b)

average birth rates.

c)

number of households.

39.

All of the following are excluded from GDP except

a)

non-market goods and services

b)

used goods

c)

environmental quality

d)

final goods and services

40.

John went to Sports Clips and purchased a haircut. Where would this show up in the GDP formula?

a)

Consumption (Consumer)

b)

Investment (Business)

c)

Government Spending

d)

Exports-Imports

100 %

Similar Resources on Wayground

41 questions

Safety Procedures Quick Reference Guide

Worksheet

•

Professional Development

42 questions

Team UPL - Quizimodo Challenge - Part 1

Worksheet

•

Professional Development

40 questions

LATIHAN SOAL PPPK - KEMAMPUAN MANAJERIAL

Worksheet

•

Professional Development

42 questions

Anime

Worksheet

•

Professional Development

44 questions

Logos

Worksheet

•

KG - Professional Dev...

40 questions

Jeep Wrangler

Worksheet

•

Professional Development

40 questions

PRE TEST SEKOLAH PENGGERAK

Worksheet

•

Professional Development

40 questions

MGNF Quiz - 59

Worksheet

•

Professional Development