This quiz works best with JavaScript enabled. Home > Macroeconomics > Gdp > Gdp – Quiz 10 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Gdp Quiz 10 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The study of large-scale economic factors dealing with the economy of a nation, region, or of the world as a whole is called: A) Microeconomics. B) Macroeconomics. C) GDP. D) Supply & demand. Show Answer Correct Answer: B) Macroeconomics. 2. What does the I stand for in the GDP formula? A) Income. B) Investment. C) Internet. D) None of above. Show Answer Correct Answer: B) Investment. 3. The unemployment rate is calculated by A) All the people in the USA who don't have a job divided by the total population. B) All those in the labor force who want to work, but cannot find work divided by the total non institutionalized civilian population. C) Anyone without a job. D) None of above. Show Answer Correct Answer: B) All those in the labor force who want to work, but cannot find work divided by the total non institutionalized civilian population. 4. Costco builds a new store in Fayetteville, GA. Where would this show up in the GDP formula? A) Consumption. B) Investment. C) Government Spending. D) Exports-Imports. Show Answer Correct Answer: B) Investment. 5. Who is most hurt by inflation A) Alex, who won lottery. B) Jasmine, retired person with COLA. C) Brandon, college student. D) Juan, who is on a fixed income. Show Answer Correct Answer: D) Juan, who is on a fixed income. 6. A businessman buys a machine to produce tires A) Consumer spending. B) Government spending. C) Investment spending. D) Net exports of goods and services. Show Answer Correct Answer: C) Investment spending. 7. The "C" in the GDP equation stands for A) Cost of living. B) Calculations. C) Consumer Spending. D) Customer Costs. Show Answer Correct Answer: C) Consumer Spending. 8. When a company buys new computers for their business, what part of the GDP equation does this count as? A) Consumption. B) Investments. C) Imports. D) Exports. Show Answer Correct Answer: B) Investments. 9. Extrinsic motivation is A) A bribe. B) Could be money. C) Something tangible. D) All of these. Show Answer Correct Answer: D) All of these. 10. Canadian citizens buy American-made Blu-Rays. For the US economy it falls under ..... A) Consumption spending increases. B) Investment spending increases. C) Government purchases increases. D) Export spending increases. Show Answer Correct Answer: D) Export spending increases. 11. Government closes schools for the month of March. A) GDP decreases. B) GDP increases. C) No change. D) None of above. Show Answer Correct Answer: A) GDP decreases. 12. Welfare payments A) Consumer spending. B) Government spending. C) Investment spending. D) Not counted in GDP. Show Answer Correct Answer: D) Not counted in GDP. 13. The largest sector of the macroeconomy is the A) Consumer Sector. B) Government Sector. C) Investment Sector. D) Export Sector. Show Answer Correct Answer: A) Consumer Sector. 14. If the economy is at full employment, then the unemployment rate A) Is below the natural rate of unemployment. B) Is equal to the natural rate of unemployment. C) Is equal to zero. D) Is greater than the natural rate of unemployment. Show Answer Correct Answer: B) Is equal to the natural rate of unemployment. 15. You buy some Toblerone chocolate manufactured in Switzerland. Where would this show up in the GDP formula? A) Consumption. B) Investment. C) Government Spending. D) Exports-Imports. Show Answer Correct Answer: D) Exports-Imports. 16. What is the total value of all final goods and services produced within a country in a given time? A) NNP. B) Real GDP. C) Nominal GDP. D) Total GDP. Show Answer Correct Answer: B) Real GDP. 17. Which variable constitutes the largest portion of GDP using the expenditure method? A) GPDI (I). B) G. C) C. D) NX. Show Answer Correct Answer: C) C. 18. What is the 1st economic goal of each country? A) Limit Inflation. B) Limit Unemployment. C) Promote Economic Growth. D) Measure expenditures. Show Answer Correct Answer: C) Promote Economic Growth. 19. Which of the following is the best measurement of economic growth? A) Nominal GDP. B) Real GDP. C) GDP per capita. D) Real GDP per capita. Show Answer Correct Answer: B) Real GDP. 20. Retail sales are a good indication of A) Consumer spending patterns. B) Buying habits. C) The health of the economy. D) All of these. Show Answer Correct Answer: D) All of these. ← PreviousNext →Related QuizzesMacroeconomics QuizzesGdp Quiz 1Gdp Quiz 2Gdp Quiz 3Gdp Quiz 4Gdp Quiz 5Gdp Quiz 6Gdp Quiz 7Gdp Quiz 8Gdp Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books