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Gdp Quiz 8 (25 MCQs)

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1. Each individual on food stamps in Delaware can receive up to $ 194 a month. Is this included in GDP?
2. Which of the following is an investment in human capital?
3. "Too much money chasing too few goods" best describes:
4. If GDP grew 3% in 2010, 2.2% in 2011 and 2.5% in 2012, then what is the average annual growth rate over this period?
5. In a small economy, consumption spending in 2012 is $ 6000, government spending is $ 1200, gross investment is $ 1500, exports are $ 2000, net investment is $ 300, and imports are $ 1000. What is gross domestic product in 2012?
6. The total dollar value of all final goods and services produced within the country's border in a given year after inflation is taken out of the data.
7. Calculate GDP economic growth over the following time period.January 2017:10, 000January 2018:15, 000
8. If real GDP increases, we know for sure that:
9. What is an example of human capital?
10. The cost of a pair of earrings is $ 36.99. The cost in 1983 was $ 21.95. What is the CPI?
11. The total amount of goods and services that all of the people in the economy are willing to buy
12. If a product is produced by not purchased, it
13. The current cost of a movie is $ 8.20. The cost in 1983 was $ 5.60. What is the Consumer Price Index?
14. Why do economists prefer real GDP?
15. What do injections in the circular flow of income refer to?
16. How do you calculate the value for net exports?
17. If the inflation rate was 5% and the the nominal interest rate was 5%; what was the real interest rate?
18. The Bahamas has a GDP of $ 5, 696, 000, 000, an inflation rate of 1.2%, and a population of 305, 700. Calculate the real GDP.
19. The term "quarter" when discussing business or the economy is how many months?
20. What is the use of goods and services?
21. Which one of these is NOT a limitation of GDP as an economic health measure?
22. Cash you earn from babysitting _____
23. What does nominal GDP mean?
24. The U.S. government agency NASA contracts with a firm in Alabama to provide parts for the space station. Where would this show up in the GDP formula?
25. What is meant by per capita?
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