🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books

Gdp Quiz 1 (25 MCQs)

Quiz Instructions:

Select an option to see the correct answer instantly.

1. A pair of sneakers currently is $ 85.65. If the CPI is 124.6, what was the cost in 1983?

2. The village of Menomonee Falls purchases a new fire truck. Where would this show up in GDP formula?

3. What do entrepreneurs contribute to the MOST?

4. In which category of 2015 GDP would you find the following transaction. Toyota purchases steel from US Steel in Pittsburgh for use in it's Ohio assembly plant.

5. The CPI for roasted coffee is 182.3. The current cost is $ 8.29. What was the cost in for roasted coffee in 1983?

6. Real GDP measures:

7. Which measure of GDP represents changes strictly in the quantity of goods and services produced in the economy, not the prices?

8. A large negative GDP gap implies:

9. In which category of 2015 GDP would you find the following transaction. The Smith's purchase a new home built in Orlando in June of 2015 by a Japanese homebuilder.

10. What does the "n" stand for in the GDP formula?

11. What do leakages from the circular flow of income refer to?

12. Which GDP is adjusted for inflation?

13. The purchase of stocks and bonds is

14. Market economies have been characterized by:

15. If Mrs Ramirez taught for 35yrs at an elementary school and she retired, is she considered unemployed?

16. Which type of unemployment is this:Danielle wants a higher salary and is beginning to think about leaving her current job and looking for another.

17. Which of the following is an investment in capital resources/goods?

18. During a contraction of the economy _____

19. The U.S. Government hired 10 Chinese-language experts to train U.S. Workers.

20. According to Crash Course which of the following leads to higher standard of living

21. This is GDP that has not been adjusted for inflation and it is measured in current dollars. (also called current GDP)

22. Index numbers used to show price changes over time. (measures inflation)

23. Payment for car repairs

24. Real GDP and nominal GDP differ because the real GDP:

25. This is GDP that has been adjusted for inflation and it allows countries to compare GDP from year to year. It is measured in constant dollars and is the most important measure of economic growth.

🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books

Gdp Quiz 1 (25 MCQs)

Quiz Instructions:

Related Quizzes