Podcast
Questions and Answers
Which measure of economic output takes into account the market value of all goods and services produced within a country's borders in a year?
Which measure of economic output takes into account the market value of all goods and services produced within a country's borders in a year?
- Gross National Happiness Index (GNHI)
- Gross Productivity Index (GPI)
- Gross National Product (GNP)
- Gross Domestic Product (GDP) (correct)
What are the two main drivers of economic growth?
What are the two main drivers of economic growth?
- Government policies and foreign investment
- Population growth and income distribution
- New resources and technological change (correct)
- Inflation and unemployment
Which economic measure takes into account the market value of all goods and services produced by nationals of a given country in a year?
Which economic measure takes into account the market value of all goods and services produced by nationals of a given country in a year?
- Gross National Happiness Index (GNHI)
- Gross National Product (GNP) (correct)
- Gross Domestic Product (GDP)
- Gross Productivity Index (GPI)
Which of the following is NOT a problem with GDP as a measure of economic output?
Which of the following is NOT a problem with GDP as a measure of economic output?
Which measure of economic output adjusts for purchasing power parity (PPP) and is an alternative to GDP?
Which measure of economic output adjusts for purchasing power parity (PPP) and is an alternative to GDP?
True or false: Economic growth and development are the same thing.
True or false: Economic growth and development are the same thing.
True or false: GDP measures the market value of all goods and services produced by nationals of a given country in a year.
True or false: GDP measures the market value of all goods and services produced by nationals of a given country in a year.
True or false: GNP measures the market value of all goods and services produced within a country's borders in a year.
True or false: GNP measures the market value of all goods and services produced within a country's borders in a year.
True or false: The informal sector or underground economy is a problem with GDP as a measure of economic output.
True or false: The informal sector or underground economy is a problem with GDP as a measure of economic output.
True or false: Technological change is one of the drivers of economic growth.
True or false: Technological change is one of the drivers of economic growth.
