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Questions and Answers
Which of the following is a requirement for a good or service to be included in a country's GDP?
Which of the following is a requirement for a good or service to be included in a country's GDP?
- It must be sold during the time period
- It must be produced within the nation's borders
- It must be an intermediate good
- It must be a final good (correct)
When GDP is growing, what tends to happen in the economy?
When GDP is growing, what tends to happen in the economy?
- Jobs and business opportunities become less plentiful
- More jobs and business opportunities are created (correct)
- The economy becomes stagnant
- The economy becomes more reliant on imports
Which of the following is NOT a requirement for a good or service to be included in a country's GDP?
Which of the following is NOT a requirement for a good or service to be included in a country's GDP?
- It must be sold during the time period
- It must be produced within the nation's borders
- It must be an imported good (correct)
- It must be a final good
What does GDP stand for?
What does GDP stand for?
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How is GDP calculated?
How is GDP calculated?
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