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- 1. Multiple Choice
In calculating GDP of that sector, we know that the total value added of that sector is .......
$3.5
$10.0
$15.5
$31.0
- 2. Multiple Choice
Daffa buys stock $1,000. He has to pay $50 for broker fee. How much can be counted in GDP?
$1000 (only the stock)
$1050 (stock + broker fee)
$0 (neither stock nor broker fee)
$50 (only the broker fee)
- 3. Multiple Choice
Which of these following example can be counted in GDP?
Your grandmother wins $10 million in the lottery
Company A takeover by purchasing all the assets of Company B
Buy mozzarella cheese to store it as restaurant's inventory
You buy a used copy of this textbook
- 4. Multiple Choice
Gross National Product minus Net National Product is called ...
Net National Product
Gross Domestic Product
Indirect Tax
Depreciation
- 5. Multiple Choice
Please calculate Nominal GDP in 2017...
$6.7
$5.1
$8.4
No answers are correct
- 6. Multiple Choice
How much Deflator GDP in 2018?
100
123.45
125.37
127.35
- 7. Multiple Choice
Please calculate economic growth from the data above!
37.13%
33.17%
30.37%
31.37%
- 8. Multiple Choice
Which one is considered to be business fixed investment?
Build a new house
Increase stock in warehouse
Build a new factory plant
Buy a sharia mutual fund
- 9. Multiple Choice
The term when govt budget deficit raising real interest rate and decrease investment is called
Ricardo-barro effect
Crowding - in effect
Multiplier effect
Crowding - out effect
- 10. Multiple Choice
if we pay tax and consume goods, but still have money left, we keep the money in the bank as
Private Saving
Public Saving
National Saving
Investment Saving
- 11. Multiple Choice
Which of the following is the formula to calculate GNP, based on the expenditure approach?
A. GNP = C + I + G + (X + M)
B. GNP = C + I + G – (M – X)
C. GNP = C + I + G + X + M
D. GNP = C + I + G + M – X
- 12. Multiple Choice
Which of the following is included in the calculation of personal income, but not national income?
A. Undistributed corporate profits
B. Social security contribution
C. Corporate dividend
D. Transfer payment
- 13. Multiple ChoiceWhat is the formula for GDP?C + I + G + (X-M)C + I + G / (X-M)C + I + G + (population)C + I + G + (M-X)
- 14. Multiple ChoiceHigh levels of GDP per capita indicate...Higher levels of happinessHigher standard of livingEqual levels of wealthSelf-sufficient communities
- 15. Multiple ChoiceWhat is inflation?rise in all pricesrise in most pricesrise in some pricesrise in general prices
- 16. Multiple ChoiceWhat causes demand pull inflation?rise in price due to a decrease in supplya rise in price level due to an increase in consumptiona rise in price due to an increase in the cost of productiona decrease in price due to a decrease in supply
- 17. Multiple Choice
The Consumer Price Index (CPI) can be defined as
The market value of all final goods and services
A measure of inflation based on the cost of a fixed “market basket”
- 18. Multiple ChoiceInflation is measured by...Consumer Price Index (CPI).Gross National Product (GNP).Gross Domestic Product (GDP).Securities & Exchange Commission (SEC).
- 19. Multiple Choice
What is the difference between real and nominal GDP?
Real GDP = adjusted for inflation; Nominal GDP = not adjusted for inflation
Nominal GDP = adjusted for inflation; Real GDP = not adjusted for inflation
They are the same thing
- 20. Multiple Choice
A shoe produced in South Korea and sold in the U.S.
Included in U.S. GDP
Included in South Korea GDP
Included in Canadian GDP
- 21. Multiple Choice
GDP per capita is found by dividing a country's GDP by it's
population.
average birth rates.
number of households.
- 22. Multiple Choice
To be certain that a country is producing more from year to year, economists look to see that ________________ has _________________.
GDP; decreased
GDP; increased
Real GDP; decreased
Real GDP; increased
- 23. Multiple Choice
The trade in exotic animals being illegally sold as pets is a multi-billion-dollar-a-year industry. Is this included in GDP?
Yes - Consumer spending
Yes - Government Spending
No - Underground Economy
No - Non-market activity
- 24. Multiple ChoiceWhat does Per Capita Mean?Per HouseholdPer ObjectPer WorkerPer Person
- 25. Multiple Choice
A higher GDP generally correlates to a(n) ___________ standard of living.
higher
lower
unrelated
- Answer choicesTagsAnswer choicesTags