GDP/Government Growth Question Preview (ID: 33855)


How Do We Measure GDP And How Has The Size Of Government Changed? TEACHERS: click here for quick copy question ID numbers.

The measure of our everyday costs like food, housing and medical care is this.
a) Real Income
b) Discretionary Income
c) Consumer Price Index
d) Nominal Income

Our federal budget amounts to this.
a) $4 Billion
b) $4 Trillion
c) $14 Billion
d) $14 Trillion

If GDP doesn't grow for longer than six months, the economy is in this.
a) Expansion
b) Depression
c) Repression
d) Recession

Our spending on Social Security is _______ than our defense spending.
a) More
b) Less
c) Exactly the same
d) Close

This is the bottom of the business cycle.
a) Recession.
b) Peak
c) Trough
d) Expansion

Assuming your income is steady, inflation does this to your purchasing power.
a) Increases it.
b) Decreases it.
c) Stays the same.
d) It's not this.

The term that measures how much we produce per person in a country is this.
a) GDP Per Capita
b) Nominal GDP
c) GDP
d) Net GDP.

The money we have left in our check after taxes is called this.
a) Usable Income
b) Discretionary Income
c) Disposable Income
d) Expendable Income

The time unit for measuring GDP is this.
a) Month
b) Year
c) Decade
d) Century

This would be part of what GDP measures.
a) Toaster
b) Army Tank
c) Hair cut
d) All of responses are correct.

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