Gross Domestic Product

Gross Domestic Profit

Gross Domestic Price

Gross Domestic Production

The total value of all goods and services produced in a country

The total value of all goods and services consumed in a country

The total value of all goods and services exported from a country

The total value of all goods and services imported into a country

Nominal GDP includes the effects of inflation, while real GDP does not.

Real GDP includes the effects of inflation, while nominal GDP does not.

Nominal GDP is measured in current prices, while real GDP is measured in constant prices.

Real GDP is measured in current prices, while nominal GDP is measured in constant prices.

Consumption, investment, government spending, and net exports

Consumption, investment, government spending, and imports

Consumption, investment, government spending, and exports

Consumption, investment, government spending, and trade balance

GDP is a good measure of economic welfare.

GDP is not a good measure of economic welfare.

GDP is a perfect measure of economic welfare.

GDP is a terrible measure of economic welfare.

It does not take into account income distribution.

It does not take into account environmental quality.

It does not take into account leisure time.

All of the above

The Human Development Index (HDI)

The Genuine Progress Indicator (GPI)

The Index of Sustainable Economic Welfare (ISEW)

All of the above

Economic growth always leads to increased economic welfare.

Economic growth does not always lead to increased economic welfare.

Economic growth can sometimes lead to decreased economic welfare.

Economic growth never leads to decreased economic welfare.

Investing in education and healthcare

Promoting innovation and entrepreneurship

Creating a favorable business environment

All of the above

Income inequality

Environmental degradation

Climate change

All of the above

Government can implement policies to promote economic growth and economic welfare.

Government can regulate the economy to promote economic growth and economic welfare.

Government can provide social safety nets to promote economic growth and economic welfare.

All of the above

Individuals can make choices that promote economic growth and economic welfare.

Individuals can participate in the political process to promote economic growth and economic welfare.

Individuals can volunteer their time and resources to promote economic growth and economic welfare.

All of the above

Economic growth can lead to environmental degradation.

Environmental degradation can lead to economic decline.

Economic growth and environmental sustainability can be achieved simultaneously.

Economic growth and environmental sustainability are mutually exclusive.

Investing in renewable energy and energy efficiency

Promoting sustainable agriculture and forestry practices

Creating a carbon tax or cap-and-trade system

All of the above

The high cost of renewable energy and energy efficiency technologies

The resistance of some businesses and industries to change

The lack of political will to take action on climate change

All of the above