Module 11: Interpreting Real Gross Domestic Product
Assessment
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Lilian Puig
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Other
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11th - 12th Grade
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3 plays
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Easy
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5 questions
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1.
Open Ended
What are the three different ways to calculate the GDP?
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2.
Open Ended
How do you calculate the GDP following the expenditure approach?
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3.
Multiple Choice
If the price level in the economy and nominal wages both doubled, then real wages would:
increase by 50%.
decrease by 20%.
decrease by 50%.
remain unchanged.
4.
Multiple Choice
Use this table to answer the following question. Considering Year 1 as the base year, real GDP in Year 2 was:
$47,000.
$69,000.
$72,000.
$114,000.
5.
Multiple Choice
Real GDP is nominal GDP adjusted for:
double counting.
changes in prices.
population.
imports.
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