8 Questions
Which of the following can cause an increase in GDP?
An increase in production of goods and services
What is the formula for calculating GDP?
$GDP = \Sigma (P_i \times Q_i)$
What does the equation $\Delta GDP = f (\Delta P_i , \Delta Q_i)$ represent?
The change in GDP due to changes in both prices and quantity produced
Which approach is used to measure domestic output and national income?
The Expenditures Approach
Who compiles the National Income and Product Accounts in the U.S.?
Bureau of Economic Analysis
What is the difference between Nominal GDP and Real GDP?
Nominal GDP includes inflation, while Real GDP adjusts for inflation
What is the main purpose of national income accounting?
To measure the economy's overall performance
Which organization is responsible for compiling National Income and Product Accounts in Bahrain?
The Information & eGovernment
Test your knowledge of GDP and its factors with this informative quiz. Explore how GDP is calculated and understand the different factors that can contribute to its increase.
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