This quiz works best with JavaScript enabled. Home > Macroeconomics > Gdp > Gdp – Quiz 2 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Gdp Quiz 2 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which of the following would NOT increase a nation's Potential GDP? A) A better educated and trained labor force. B) The discovery of new natural resources. C) A plague that reduces the population. D) Investment in capital resources. Show Answer Correct Answer: C) A plague that reduces the population. 2. The value of exports of goods and services minus the value of imports of goods and services. A) Gross Domestic Product. B) Net exports of goods and services. C) Investment. D) Nominal GDP. Show Answer Correct Answer: B) Net exports of goods and services. 3. Demand-Pull inflation can be describes as too many ..... chasing too few ..... A) Jobs, workers. B) Consumers, producers. C) Dollars, goods. D) None of above. Show Answer Correct Answer: C) Dollars, goods. 4. Which type of unemployment is this:Danielle wants a higher salary and is beginning to think about leaving her current job and looking for another. A) Cyclical. B) Frictional. C) Structural. D) Not unemployed. Show Answer Correct Answer: D) Not unemployed. 5. Which of the following is an investment in capital resources/goods? A) Healthcare. B) New machinery. C) Skills training. D) Universities. Show Answer Correct Answer: B) New machinery. 6. During a contraction of the economy ..... A) GDP rises and unemployment falls. B) GDP falls and unemployment falls. C) GDP falls and unemployment rises. D) GDP rises and unemployment rises. Show Answer Correct Answer: C) GDP falls and unemployment rises. 7. The U.S. Government hired 10 Chinese-language experts to train U.S. Workers. A) GDP increases. B) GDP decreases. C) No change. D) None of above. Show Answer Correct Answer: B) GDP decreases. 8. According to Crash Course which of the following leads to higher standard of living A) Productivity. B) Amount of immigration. C) Trade. D) Number of Jedis. Show Answer Correct Answer: A) Productivity. 9. Measures wholesale price levels in the economy. A) Consumer Price Index (CPI). B) Gross National Product (GNP). C) Gross Domestic Product (GDP. D) Producer Price Index (PPI). Show Answer Correct Answer: D) Producer Price Index (PPI). 10. This is GDP that has not been adjusted for inflation and it is measured in current dollars. (also called current GDP) A) Real GDP. B) Nominal GDP. C) Per capita GDP. D) Real GNP. Show Answer Correct Answer: B) Nominal GDP. 11. Index numbers used to show price changes over time. (measures inflation) A) Consumer Price Index. B) Unemployment rate. C) Gross Domestic Product. D) Per capita GDP. Show Answer Correct Answer: A) Consumer Price Index. 12. Payment for car repairs A) Consumer spending. B) Government spending. C) Investment spending. D) Net exports of goods and services. Show Answer Correct Answer: A) Consumer spending. 13. Real GDP and nominal GDP differ because the real GDP: A) Is adjusted for changes in the volume of intermediate transactions. B) Includes the economic effects of international trade. C) Has been adjusted for changes in the price level. D) Excludes depreciation charges. Show Answer Correct Answer: C) Has been adjusted for changes in the price level. 14. This is GDP that has been adjusted for inflation and it allows countries to compare GDP from year to year. It is measured in constant dollars and is the most important measure of economic growth. A) Real GDP. B) Nominal GDP. C) Nominal GNP. D) Nominal per capita GDP. Show Answer Correct Answer: A) Real GDP. 15. Ireland has a GDP of $ 136, 900, 000, 000, and inflation rate of 2.7%, and a population of 4, 109, 000. What is the per capita GDP? A) $ 33, 311. B) $ 34, 337. C) $ 33, 435. D) $ 33, 317. Show Answer Correct Answer: D) $ 33, 317. 16. Intrinsic motivation is A) Intangible. B) A pat on the back. C) Verbal praise. D) All of these. Show Answer Correct Answer: D) All of these. 17. Based on the following equation, what does "Y" represent? Y = C+I+G+Xn A) Inflation. B) GDP. C) Gross National Product. D) Personal income. Show Answer Correct Answer: B) GDP. 18. Consumer spending A) Accounts for roughly 70% of GDP. B) Is one of 4 components of GDP. C) Could be a family going to the movies. D) All of these. Show Answer Correct Answer: D) All of these. 19. In the circular flow, we can actually talk about two markets. What are they? A) Natural market and stable market. B) Command market and free market. C) Resource market and product market. D) None of above. Show Answer Correct Answer: C) Resource market and product market. 20. In the United States economy, what do businesses buy from consumers? A) Resources. B) Interest. C) Goods. D) Services. Show Answer Correct Answer: A) Resources. ← PreviousNext →Related QuizzesMacroeconomics QuizzesGdp Quiz 1Gdp Quiz 3Gdp Quiz 4Gdp Quiz 5Gdp Quiz 6Gdp Quiz 7Gdp Quiz 8Gdp Quiz 9Gdp Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books