In a globalized economy many companies will move factories or businesses to-

Countries with low labor costs to save money

What does Gross Domestic Product (GDP) mean for a nation?

the value of all final goods & services produced in a year

GDP doesn't take into account pollution

Which of the following does not contribute to GDP?

intermediate goods, gross goods

Which of these items is reflected by a country’s GDP?

Income created from production of goods and services

What's a limitation of GDP?

counts some negatives as positives

Combining businesses, technology, and transportation globalization has-

Made more goods and services available all over the world

The increased connectivity of the world is partly due to-

Technology such as satellites and the internet

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Öks

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Questions 15

Answers

1
What's the formula for calculating GDP?
mx+b = GDP
C+I+G+NX (real GDP) = GDP
a2+b2 = c2 = GDP
C+I+G+NX = GDP
2
What is another name for Gross Domestic Product?
Nominal Gross Domestic Product
National Gross Domestic Product
Per Capita Gross Domestic Product
Real Gross Domestic Product
3
What does GDP stand for
Growth domestic products
Gross domestic products
Gross domestic Produkts
Gross domistic product
4
When companies use overseas companies to lower the cost of a product or service it is-
Communism
Outsourcing
Drop shipping
Online shopping
5
In a globalized economy many companies will move factories or businesses to-
Countries with low labor costs to spend money
Countries with low labor costs to save money
Industrial capitals of their home nation
Provide better climate for employees
6
If taxes go up a lot and it hits the Middle Class (as it usually does) hardest what happens?
GDP goes down
GDP goes up
7
What items are included in the value of a country’s GDP?
both final and intermediate goods and services
only final goods and services
only intermediate goods and services
neither final nor intermediate goods and services
8
What does Gross Domestic Product (GDP) mean for a nation?
the measured dollars of constant purchasing power
the total value of intermediate goods produced in a year
the value of non-market activity
the value of all final goods & services produced in a year
9
How do economists calculate the value of a country’s Per Capita GDP?
GDP divided by the population
Real GDP divided by the population
GDP divided by the price level
Real GDP divided by the price level
10
What's a con to GDP?
GDP doesn't measure the amount of animals
GDP doesn't measure the amount of people with low IQ
GDP doesn't take into account pollution
11
Which of the following does not contribute to GDP?
final goods
intermediate goods
gross goods
services
12
Which of these items is reflected by a country’s GDP?
Satisfaction people get from leisure activities
The value of housework people do in their homes
Income created from production of goods and services
How income is distributed among citizens
13
What's a limitation of GDP?
can't count some country's GDP
new product bias
market values increasing/decreasing
counts some negatives as positives
14
Combining businesses, technology, and transportation globalization has-
Made more goods and services available all over the world
Made less goods available over the world
An decrease in education
An increase in global unity
15
The increased connectivity of the world is partly due to-
drinking coke
Netflix
Technology such as satellites and the internet
The nation building progress of the United Nations

Öks Flashcards | StudBud

Öks

15 termsStudBud Administration4 plays

Play the Quiz! game to test your öks skills :)

Flashcards15 cardsFPractice quizPHost liveL

Questions 15

Answers

1
What's the formula for calculating GDP?
mx+b = GDP
C+I+G+NX (real GDP) = GDP
a2+b2 = c2 = GDP
C+I+G+NX = GDP
2
What is another name for Gross Domestic Product?
Nominal Gross Domestic Product
National Gross Domestic Product
Per Capita Gross Domestic Product
Real Gross Domestic Product
3
What does GDP stand for
Growth domestic products
Gross domestic products
Gross domestic Produkts
Gross domistic product
4
When companies use overseas companies to lower the cost of a product or service it is-
Communism
Outsourcing
Drop shipping
Online shopping
5
In a globalized economy many companies will move factories or businesses to-
Countries with low labor costs to spend money
Countries with low labor costs to save money
Industrial capitals of their home nation
Provide better climate for employees
6
If taxes go up a lot and it hits the Middle Class (as it usually does) hardest what happens?
GDP goes down
GDP goes up
7
What items are included in the value of a country’s GDP?
both final and intermediate goods and services
only final goods and services
only intermediate goods and services
neither final nor intermediate goods and services
8
What does Gross Domestic Product (GDP) mean for a nation?
the measured dollars of constant purchasing power
the total value of intermediate goods produced in a year
the value of non-market activity
the value of all final goods & services produced in a year
9
How do economists calculate the value of a country’s Per Capita GDP?
GDP divided by the population
Real GDP divided by the population
GDP divided by the price level
Real GDP divided by the price level
10
What's a con to GDP?
GDP doesn't measure the amount of animals
GDP doesn't measure the amount of people with low IQ
GDP doesn't take into account pollution
11
Which of the following does not contribute to GDP?
final goods
intermediate goods
gross goods
services
12
Which of these items is reflected by a country’s GDP?
Satisfaction people get from leisure activities
The value of housework people do in their homes
Income created from production of goods and services
How income is distributed among citizens
13
What's a limitation of GDP?
can't count some country's GDP
new product bias
market values increasing/decreasing
counts some negatives as positives
14
Combining businesses, technology, and transportation globalization has-
Made more goods and services available all over the world
Made less goods available over the world
An decrease in education
An increase in global unity
15
The increased connectivity of the world is partly due to-
drinking coke
Netflix
Technology such as satellites and the internet
The nation building progress of the United Nations