GDP Calculation Essentials
5 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

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?

  • 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?

  • 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?

    <p>Gross Domestic Product</p> Signup and view all the answers

    How is GDP calculated?

    <p>By adding up national spending on final goods and services</p> Signup and view all the answers

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser