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Q 1/20
Score 0
A restaurant buys strawberries to make a smoothie. The purchase of the strawberries is added to GDP under consumption.
30
True
False
Q 2/20
Score 0
Which of the following macroeconomic indicators is real GDP per capita generally correlated with? Mark all that apply.
30
Life expectancy
Literacy
Happiness
Poverty
20 questions
Q.
A restaurant buys strawberries to make a smoothie. The purchase of the strawberries is added to GDP under consumption.
1
30 sec
Q.
Which of the following macroeconomic indicators is real GDP per capita generally correlated with? Mark all that apply.
2
30 sec
Q.
If real GDP is $100 and the number of people in a country is 20, then real GDP per capita in that country is:
3
30 sec
Q.
Prices typically rise for similar goods over time, the economic term for this is______.
4
30 sec
Q.
Which GDP measure best approximates the standard of living over time?
5
30 sec
Q.
Which of the following are NOT included in GDP? Mark all that apply.
6
30 sec
Q.
A customer buys a strawberry smoothie from a restaurant. The purchase of the smoothie is added to GDP under consumption.
7
30 sec
Q.
In which of the following scenarios does compound growth occur? Mark all that apply.
8
30 sec
Q.
Imported oranges to the United States from the Dominican Republic are counted towards which country’s GDP?
9
30 sec
Q.
The price of coffee increases, but the amount sold remains the same. What would increase?
10
30 sec
Q.
How much richer is the U.S. today compared to 1800 (note: the US has grown at roughly 2 percent per year since 1800)?
11
30 sec
Q.
If a country’s nominal GDP increases by 100% from one year to the next, which of the following variables likely increased the most?
12
30 sec
Q.
If the price of housing doubled over ten years, what was its growth rate according to the rule of
13
30 sec
Q.
Based on the above graph which shows nominal and real GDP, we can claim that:
14
30 sec
Q.
GDP stands fo
15
30 sec
Q.
An intermediate good is counted towards GDP.
16
30 sec
Q.
The rule of 70 tells you how fast something will ______ over time.
17
30 sec
Q.
If you invest your money in a savings account that earns 1% per year, and you re-invest your earnings so that the interest compounds, how long will it take for your savings to double?
18
30 sec
Q.
Say that when you are 35 years old, you invest $15,000 in a retirement account that earns 7%, and you add nothing else to your account after that initial investment. How much will you have in your retirement account when you are 75?
19
30 sec
Q.
Japan grew at only 2% per year, how often would Japan’s GDP doubled in size?
