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GDP.short

Quiz by SHANNON BARTRUFF

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13 questions
Show answers
  • Q1
    Gross means
    before deductions
    after deductions
    30s
  • Q2
    Domestic means
    outside a country's borders
    within a country's borders
    30s
  • Q3
    Product means
    after multiplication
    goods and services
    30s
  • Q4
    Gross Domestic Product
    it's the total income of a nation
    is the TOTAL $ value of all FINAL good and services produced in a country's borders in 1 yr.
    30s
  • Q5
    The Underground Market
    isn't counted in GDP although it has value
    is counted because it has value
    30s
  • Q6
    A stay at home mother's work would
    count towards GDP because her work has value
    not contribute towards GDP because there's no new production
    30s
  • Q7
    A natural disaster has a POSITIVE affect on the economy and a negative societal effect. This is a flaw of GDP.
    F
    T
    30s
  • Q8
    2nd hand goods at a yard sale do count towards GDP- they have value.
    T
    F
    30s
  • Q9
    Consumer spending accounts for roughly 90% of GDP.
    T
    F
    30s
  • Q10
    Business spending is also called
    investment
    allocation
    30s
  • Q11
    Government spends money on many things that contribute to the well-being of society-one of the biggest is
    the military
    buildings
    supplies
    30s
  • Q12
    Net exports imply that
    imports are greater than exports
    exports are greater than imports
    30s
  • Q13
    When we import more from the rest of the world than we export to them we experience a
    trade deficit
    budget surplus
    30s

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