Gdp Quiz 6 (25 MCQs)

Quiz Instructions:

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1. When a nation's exports exceed its imports and is calculated as exports-imports

2. Investment is defined as the purchase of

3. What does the business cycle show?

4. Your friend sells bootleg DVD's and fake ID's from his garage office. He usually makes about $ 500 a week.

5. Limited resources, goods and services

6. Why are "intermediate goods" not counted in GDP?

7. The formula for GDP is

8. The date when the prime minister died.

9. Nominal GDP is same as

10. Population divided GDP

11. It's the study of human behavior

12. An American buys a car made in Japan

13. What are the rewards to the factors of production called?

14. General Motors buys new automated equipment for use in building cars. This falls under _____

15. What is the total value of all final goods and services produced in the economy in a given year?

16. Dollar value of all final goods and services produced within a country in a given year.

17. Oktoberfest is held in which European city and country every autumn?

18. The total amount of goods and services that all producers in an economy are willing and able to make

19. What does the I stand for in the GDP formula?

20. The unemployment rate is calculated by

21. Costco builds a new store in Fayetteville, GA. Where would this show up in the GDP formula?

22. Who is most hurt by inflation

23. A businessman buys a machine to produce tires

24. The "C" in the GDP equation stands for

25. When a company buys new computers for their business, what part of the GDP equation does this count as?