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Core Econ 1.2 Quiz

Quiz by Mika'il Stewart Saadiq

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5 questions
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  • Q1
    GDP is defined as the total of goods and services in country divided by
    its 90/10 ratio
    the highest average income
    its number of buildings
    the countries population
  • Q2
    Disposable income is thought to be a good measure of living standards because it is the
    same thing as GDP
    measure of countries gold
    maximum amount of goods and services that the person can buy without having to borrow
    the best way to see if people are happy in a country
  • Q3
    Income is a major influence on wellbeing because
    all needs are unlimited
    it allows us to be our happiest selves
    it allows us to buy the goods and services that we need or enjoy
    ever body likes a winner
  • Q4
    Which is a better measure of living standards
    gross income
    GDP per capita
    net worth
    disposable income
  • Q5
    The text suggests that we should be cautious about the literal use of GDP per capita to do what?
    Users enter free text
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