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WorksheetsGDP Quiz
Total questions: 9
Worksheet time: 3mins
Which of the following is the best measurement of economic growth?
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 calculated using the prices of a selected base year?
Nominal GDP
Real GDP per capita
Real GDP
GDP per capita
Nike produces most of its goods in China and Vietnam. Where would this production be counted?
US GDP
China and Vietnam's GDP
U.S GNP
In both U.S. GNP and China and Vietnam's GDP
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
Tropical Republic produces only bananas and coconuts. The base year is 2016, and the tables give the quantities produced and the prices.
1. Calculate nominal GDP in 2016 and 2017.
2. Calculate real GDP in 2017 expressed in base-year prices.
Nominal $5600 in 2016
Nominal $6100 in 2017
Real GDP-2017-$6800
Nominal $5700 in 2016
Nominal $6100 in 2017
Real GDP-2017-$6800
Nominal $5600 in 2016
Nominal $6100 in 2017
Real GDP-2017-$6700
Nominal $5600 in 2016
Nominal $6200 in 2017
Real GDP-2017-$6800
Let C represent consumption expenditure, S saving, I gross private domestic investment, G government purchases of goods and services, and NX net exports of goods and services. Then GDP equals
C + S + G + NX.
C + S + G – NX.
C + I + G + NX
C + I + G – NX
What is the full form of GDP?
Gain and Dividend Plan
Gross Detailed Product
Gross Domestic Product
Global Domestic Product
