#1
Which of the following is a component of Gross Domestic Product (GDP)?
Imports
Savings
Unemployment benefits
Corporate profits
#2
Which of the following is considered an investment in GDP calculation?
Buying stocks and bonds
Spending on education and healthcare
Purchasing groceries
Buying imported goods
#3
In GDP calculation, what does 'I' represent?
Imports
Investment
Interest
Inflation
#4
Which component of GDP includes purchases of new homes?
Consumption
Investment
Government spending
Net exports
#5
What is the main purpose of calculating GDP?
To measure the overall health of an economy
To determine the national debt
To regulate inflation
To evaluate international trade balances
#6
What is the formula for calculating GDP?
GDP = Consumption + Investment + Government spending + Exports - Imports
GDP = Consumption + Investment + Government spending
GDP = Consumption + Exports - Imports
GDP = Consumption + Government spending + Exports - Imports
#7
Which of the following is not included in the calculation of GDP?
Salaries paid to government employees
Income earned from foreign investments
Value of intermediate goods
Value of final goods and services produced
#8
What does GDP per capita represent?
Total GDP of a country
GDP divided by total population of a country
GDP growth rate
GDP of a country minus its debt
#9
What does the 'C' stand for in the GDP formula GDP = C + I + G + (X - M)?
Consumption
Corporate profits
Currency exchange
Credit
#10
Which of the following is included in the calculation of Net Exports (X - M)?
Imports
Government spending
Unemployment benefits
Savings
#11
What is the difference between nominal GDP and real GDP?
Nominal GDP is adjusted for inflation, while real GDP is not
Nominal GDP reflects the current prices, while real GDP adjusts for inflation
Nominal GDP is only calculated quarterly, while real GDP is calculated annually
Nominal GDP includes imports, while real GDP does not
#12
Which of the following is an example of government spending in GDP calculation?
An individual purchasing a car
A company building a new factory
A city council constructing a new road
A family buying groceries
#13
Which of the following is an example of government transfer payments not included in GDP?
Social Security benefits
Welfare payments
Veterans' benefits
Corporate tax payments
#14
Which of the following is considered in GDP calculation when a company produces a good but does not sell it immediately?
Only when the good is sold
At the time of production
When the good is produced and sold
Never considered
#15
Which method is used to calculate GDP by adding up the value of all goods and services produced in the economy?
Income approach
Expenditure approach
Production approach
Value-added approach
#16
What is the effect of depreciation on GDP?
Depreciation increases GDP
Depreciation decreases GDP
Depreciation has no effect on GDP
Depreciation only affects GNP, not GDP