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New Zealand GDP Quiz

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Questions and Answers

Which of the following best represents the Gross Domestic Product (GDP) of New Zealand?

$150 billion (correct)
$400 billion
$200 billion
$300 billion

What is the approximate GDP of New Zealand in USD?

NZD 700 million
NZD 500 million
NZD 900 million
NZD 300 million (correct)

Which of the following is closest to the Gross Domestic Product (GDP) of New Zealand in 2021?

$350 billion
$500 billion
$250 billion (correct)
$100 billion

What is the estimated GDP of New Zealand for the current fiscal year?

$200 billion (C) Signup and view all the answers

What does the Gross Domestic Product (GDP) measure?

The total value of all goods and services produced in a country (C) Signup and view all the answers

Which of the following factors contribute to the calculation of GDP?

Consumption, investment, government spending, and net exports (A) Signup and view all the answers

How does an increase in GDP generally reflect on the economy?

It indicates economic growth and increased standard of living (D) Signup and view all the answers

What is the significance of GDP in assessing the economic performance of a country?

It provides a comprehensive measure of the country's economic activity (C) Signup and view all the answers

Which of the following is NOT a common measure used to assess the economic performance of a country?

Government Debt-to-GDP ratio (A) Signup and view all the answers

What does the Gross Domestic Product (GDP) NOT account for in the calculation of a country's economic output?

Income inequality within the country (D) Signup and view all the answers

Which of the following factors is NOT included in the calculation of the Gross Domestic Product (GDP)?

Social security payments (D) Signup and view all the answers

How does a decrease in the Gross Domestic Product (GDP) generally reflect on the economy?

It indicates a shrinking economy and potential recession (A) Signup and view all the answers