Exports are goods and services that are produced in other countries, then brought to the United States in trade.

GDP is the value of all final goods and services produced within a countries borders in a given period of time.

Government spending, such as food assistance, Social Security, and Medicaid are included in GDP.

A business cycle will affect all states, people, and businesses equally.

GDP does not include household production, such as a garden producing vegetables or sewing your own clothing.

Which of the following is NOT included in GDP?

What is GDP per capita?

During a recession, interest rates are...

During a depression, consumer spending is...

What are fluctuations reflecting the rise and fall of economic activity relative to long term growth trend in the economy?

What best describes a developed nation?

What best describes a developing nation?

What best describes an underdeveloped nation?

Indicate which component of GDP is affected in this scenario, A business that sells lamps increases their current inventory by 5,000 lamps

Indicate which component of GDP is affected in this scenario, An individual spends $150 on a new cell phone

Indicate which component of GDP is affected in this scenario, A Chinese company purchases rubber valves from a US based company

Indicate which component of GDP is affected in this scenario, A single mother receives $360 a month in food stamps.

Indicate which component of GDP is affected in this scenario, A school receives funding from the Dept. of Education

Indicate which component of GDP is affected in this scenario, A teenager purchases their first car, a used Prius

Indicate which component of GDP is affected in this scenario, Starbucks purchases a new coffee machine to keep up with business.

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