GDP is best defined as the

Value of all final goods and services produced by a country

All of the following would be considered to be a part of a country's natural resources except

Amount of money available for investment

Human Capital is a word used by economists to describe

The economic value of a worker's skill set

One reliable measure of economic growth is

Annual percentage change in GDP

When economists discuss productivity, they are talking about

Output per unit of input, such as labor or capital

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The Economics of Income: The Rich Nations Mystery

10 termsStudBud Administration1,812 plays

A quick quiz designed to familiarize students with the vocabulary of economic measures, economic growth, and standard of living

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Questions 10

Answers

1
•These four countries have the largest economies in the world as measured by GDP (Nominal)
China, France, Germany, India
China, India, Japan, U.S.
U.S., China, Canada, Mexico
U.S., China, Germany, Japan
2
GDP is best defined as the
Value of all goods traded with other countries in a year
Value of all final goods and services produced by a country
Value of all income made by all people in a country
Value of all income and savings of a country
3
All of the following would be considered to be a part of a country's natural resources except
Mineral deposits
Farmland
Deepwater ports
Amount of money available for investment
4
The dollar value of the average economic productivity of a person in a given country is called
National Worker Average
Average Income
Per capita GDP
Productive Worker Value
5
There were this many countries represented in the last Olympic games:
79
104
312
206
6
Human Capital is a word used by economists to describe
The size of a country's labor force
The economic value of a worker's skill set
The number of workers needed to build the Capitol
The ratio of workers to physical capital
7
One reliable measure of economic growth is
Percentage change in national debt
Population growth
Annual percentage change in GDP
Change in inflation
8
When economists discuss productivity, they are talking about
Output per unit of input, such as labor or capital
How much a country or firm produces
How much revenue a firm or country generates
The size of a country's labor force
9
All of the following are common measures of a countries standard of living except:
Literacy Rate
National debt
Life expectancy
Infant Mortality
10
These four countries have the largest populations in the world:
India, China, Japan, U.S.
China, Mexico, U.S., Japan
China, India, U.S., Indonesia
U.S., China, Brazil, Mexico

The Economics of Income: The Rich Nations Mystery Flashcards | StudBud