GDP Quiz

Question 0

GDP is also a measure of the nation’s _________ from one period to the next.

Answer 0

economic growth

Question 1

What is the definition of GDP?

Answer 1

currency value of all final goods and services produced within a country in a given period

Question 2

4 components of GDP expenditures

Answer 2

consumption, investment, government, net exports

Question 3

amount of goods and services purchased by households

Answer 3

consumption

Question 4

Consumption examples

Answer 4

food, cars

Question 5

amount of money spent by business on productive resources and purchases of homes by consumers

Answer 5

investment

Question 6

amount spent by local, state, and federal government provided goods and services

Answer 6

government

Question 7

value of exports-imports

Answer 7

net exports

Question 8

investment examples

Answer 8

new machines, factories, inventory

Question 9

examples of govt. purchases

Answer 9

public schools, roads, fire dept.

Question 10

GDP=

Answer 10

C+I+G+NX

Question 11

not included in GDP

Answer 11

intermediate goods, used goods, underground production, financial transactions, household production, transfer payments