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Gdp Quiz 3 (25 MCQs)

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1. Which of these items is not a durable good?
2. Remember:there are four "pieces" of GDP:C, I, G, and Nx. When the owner of a snow cone business buys more ice for his machine, which piece is affected?
3. The GDP of the United States is the _____ in the entire world at >$ 21 trillion.
4. In the United States, the largest component of GDP is made up of
5. Which of the following is considered a cause of inflation?
6. The net value of GDP after deducting depreciation from GDP is
7. GDP per capita is equivalent to
8. C+I+G+(X-M) is used to measure which of the following?
9. _____ are common products that consumers buy in a month. (used for CPI)
10. All of the following account for the growing income gap EXCEPT
11. What is GDP divided by the size of the population?
12. Which is included in GDP?
13. Total market value of all final goods and services produced annually in a country is called
14. A teacher buys a present for a friend
15. The value of output produced by factors of production located within a country
16. What is one of the four factors of production?
17. Which national income measurement approach calculates GDP by aggregating value added at each stage of production?
18. Which of the following equations represents equilibrium?
19. Nation with the 2nd largest GDP in the world
20. Net exports is equal to _____ minus imports.
21. Which is often an effect of a high literacy rate?
22. Inflation initiated by increases in wages or other resource prices is labeled:
23. Unemployment involving a mismatch of the skills of unemployed workers and the skills required for available jobs is called:
24. When GDP falls for two or more consecutive quarters _____
25. A rise in general price levels or too many dollars chasing too few goods are definitions of
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