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Gdp Quiz 10 (25 MCQs)

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1. How can an economist compare the standard of living in two different countries?

2. In 2014, America's GDP was _____ trillion.

3. For a nation's real GDP per capita to rise during a year:

4. The lowest point of a contractionary phase of the business cycle is known as _____

5. A shoe produced in South Korea and sold in the U.S.

6. Assuming the total population is 100 million, the civilian labor force is 50 million, and 3 million workers are unemployed, the unemployment rate is:

7. If Nominal GDP was $ 36, 000 and the GDP deflator was 120. Real GDP is

8. When imports exceed exports we call this a

9. If GDP is currently $ 13 trillion and is growing at a rate of 2.3% per year, how long will it take GDP to reach $ 26 trillion?

10. Which American industry was hit hard by NAFTA

11. EXXON explores for oil

12. In the GDP equation, what does the 'C' stand for?

13. Which national income measurement approach uses the formula:GDP = C+I+G+ (X-M)?

14. General increase in the prices of goods and services

15. Which nation grows the most corn

16. What does the "M" stand for in the GDP equation

17. GDP per capita tells you what?

18. An American named Peter Parker buys a necklace from Italy. Identity the proper category of GDP.

19. What Starbuck's beverage is purchased the most this time of year?

20. If a country has a large proportion of its workforce working in foreign nations sending their earnings back home, its GNP will likely be _____ than its GDP.

21. At an annual growth rate of 7 percent, real GDP will double in about:

22. Just like calculating your own income GDP measures _____

23. GDP per capita is found by

24. What percentage of Americans typically carve pumpkins?

25. What type of GDP takes into consideration inflation?

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Gdp Quiz 10 (25 MCQs)

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