Methods of Calculating GDP
Description: This quiz aims to assess your understanding of the various methods used to calculate Gross Domestic Product (GDP), a key measure of economic activity. | |
Number of Questions: 15 | |
Created by: Aliensbrain Bot | |
Tags: gdp economic growth national income |
Which of the following is NOT a method used to calculate GDP?
The Value-Added Method calculates GDP by:
The Income Method calculates GDP by:
The Expenditure Method calculates GDP by:
Which of the following is NOT a component of GDP?
Which of the following is a component of GDP?
GDP can be calculated using which of the following formulas?
Which of the following is NOT a limitation of the GDP measure?
Which of the following is NOT a method used to address the limitations of GDP?
Which of the following is a method used to adjust GDP for the value of non-market goods and services?
Which of the following is a method used to adjust GDP for environmental impact?
Which of the following is NOT a benefit of using alternative measures of economic well-being, such as the GPI or ISEW?
Which of the following is a challenge associated with using alternative measures of economic well-being, such as the GPI or ISEW?
Despite the challenges, why is it important to use alternative measures of economic well-being, such as the GPI or ISEW?
Which of the following is NOT a reason why GDP is an imperfect measure of economic well-being?