This quiz works best with JavaScript enabled. Home > Macroeconomics > Gdp > Gdp – Quiz 9 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Gdp Quiz 9 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Investment is defined as the purchase of A) Any financial asset only. B) Additions to inventories only. C) Financial assets and inventories only. D) The purchase of new capital goods and additions to inventories. Show Answer Correct Answer: D) The purchase of new capital goods and additions to inventories. 2. As per Social Progress Index, safety is a ..... A) Basic human need. B) Foundations of well-being. C) Opportunity. D) Socio-economic factor. Show Answer Correct Answer: A) Basic human need. 3. What does the business cycle show? A) The amount of profit a company could possibly make. B) The change in Real GDP over time. C) The amount of taxes a company should pay. D) How a business operates and functions economically. Show Answer Correct Answer: B) The change in Real GDP over time. 4. To measure the health of an economy, people look at the symptoms or indicators used to measure the health of an economy. The 3 main indicators include all of the following except; A) Gross Domestic Product. B) Imflation/ Consumer Price Index. C) Unemployment. D) Average Income Level. Show Answer Correct Answer: D) Average Income Level. 5. Your friend sells bootleg DVD's and fake ID's from his garage office. He usually makes about $ 500 a week. A) No-selling personal items. B) No-selling illegal items. C) Yes-consumption. D) No-doesn't make enough to count for GDP. Show Answer Correct Answer: B) No-selling illegal items. 6. Limited resources, goods and services A) Inflation. B) Market value. C) Scarcity. D) Social science. Show Answer Correct Answer: C) Scarcity. 7. Why are "intermediate goods" not counted in GDP? A) Because you would end up counting the same thing twice. B) Because intermediate goods are thrown away. C) Because intermediate goods exist only in theory. D) Because intermediate goods are final goods. Show Answer Correct Answer: A) Because you would end up counting the same thing twice. 8. The formula for GDP is A) C+X+G+Y. B) C-I-G-Xn. C) C+I+G+Xn. D) I+G-Xn-Xi. Show Answer Correct Answer: C) C+I+G+Xn. 9. The date when the prime minister died. A) April 5, 2014. B) March. 23, 2015. C) August 6, 2017. D) April 2, 2016. Show Answer Correct Answer: B) March. 23, 2015. 10. Nominal GDP is same as A) Real GNP. B) GNP less net factor income from abroad. C) GDP adjusted for Inflation. D) GDP at current prices (todays prices). Show Answer Correct Answer: D) GDP at current prices (todays prices). 11. Population divided GDP A) GDP squared. B) Standard of living. C) Population density. D) GDP per capita. Show Answer Correct Answer: D) GDP per capita. 12. It's the study of human behavior A) Applied Science. B) Social Science. C) Social Studies. D) Economics. Show Answer Correct Answer: B) Social Science. 13. An American buys a car made in Japan A) Consumer spending. B) Government spending. C) Investment spending. D) Net exports of goods and services. Show Answer Correct Answer: D) Net exports of goods and services. 14. To be certain that a country is producing more from year to year, economists look to see that ..... has ..... A) GDP; decreased. B) GDP; increased. C) Real GDP; decreased. D) Real GDP; increased. Show Answer Correct Answer: D) Real GDP; increased. 15. What are the rewards to the factors of production called? A) Rent, rates, wages, and enterprise. B) Land, labour, capital, and enterprise. C) Dividends, interest, rent, and wages. D) Rent, interest, profits, and wages. Show Answer Correct Answer: D) Rent, interest, profits, and wages. 16. General Motors buys new automated equipment for use in building cars. This falls under ..... A) Consumption. B) Investment. C) Government spending. D) Export spending. Show Answer Correct Answer: B) Investment. 17. What is the total value of all final goods and services produced in the economy in a given year? A) Unemployment rate. B) Supply and Demand. C) GDP. D) Communism. Show Answer Correct Answer: C) GDP. 18. Dollar value of all final goods and services produced within a country in a given year. A) Depreciation. B) Durable goods. C) GDP. D) Price level. Show Answer Correct Answer: C) GDP. 19. Oktoberfest is held in which European city and country every autumn? A) Berlin, Germany. B) Brussels, Belgium. C) Vienna, Austria. D) Munich, Germany. Show Answer Correct Answer: D) Munich, Germany. 20. The total amount of goods and services that all producers in an economy are willing and able to make A) Aggregate supply. B) Aggregate demand. C) Supply. D) Demand. Show Answer Correct Answer: A) Aggregate supply. ← PreviousNext →Related QuizzesMacroeconomics QuizzesGdp Quiz 1Gdp Quiz 2Gdp Quiz 3Gdp Quiz 4Gdp Quiz 5Gdp Quiz 6Gdp Quiz 7Gdp Quiz 8Gdp Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books