Question 1

The ________ is the economic value of all the products that a country exports minus the economic value of imported products.
real GDP
gross national product
nominal GDP
balance of trade
national debt

Accepted Answer

The answer of The ________ is the economic value of...

Question 2

If GDP is going up, the nation is experiencing
inflation.
growth.
an increase in demand.
a recession.
it is not possible to tell given the information provided.

Accepted Answer

The answer of If GDP is going up, the nation...

Question 3

Which of the following would be included in the GNP of Canada?
A Canadian company produces and sells products in Brazil
A Brazilian company produces and sells products in Canada
A U.S. company produces and sells products in Canada
A Canadian company produces and sells products in Canada
it is not possible to tell given the information that is provided

Accepted Answer

The answer of Which of the following would be included...

Question 4

The principle of ________ states that exchange rates are set so that the prices of similar products in different countries are about the same.
nominal GDP
gross national product
consumer price index
equal prices
purchasing power parity

Accepted Answer

The answer of The principle of ________ states that exchange...

Question 5

Purchasing power parity gives us a good idea of
what people are buying outside their own country while on vacation or while doing international business.
what people can actually buy with the financial resources allocated to them by their economic system.
what people would like to buy with the financial resources in their economic system.
purchasing trends across the globe.
average annual income.

Accepted Answer

The answer of Purchasing power parity gives us a good...

Question 6

Which of the following would be included in the GNP of Brazil?
A Canadian company produces and sells products in Brazil
A Brazilian company produces and sells products in Canada
A U.S. company produces and sells products in Brazil
A Brazilian company produces and sells products in Brazil
it is not possible to tell given the information that is provided

Accepted Answer

The answer of Which of the following would be included...

Question 7

With regard to GDP, GNP, and GPI, which of the following is correct?
The profits earned by a Canadian company abroad are included in GDP, but not in GNP.
Profits earned by foreign firms in Canada are included in GNP.
GDP and GPI both increased as a result of the BP oil spill in the Gulf of Mexico.
GDP has been increasing for many years, but GPI has been decreasing since the 1970s.
GNP, GDP, and GPI all measure essentially the same thing.

Accepted Answer

The answer of With regard to GDP, GNP, and GPI,...

Question 8

Which of the following is accurate regarding purchasing power parity?
It gives us a better idea of what people can actually buy with the financial resources they have.
It reflects the principle that exchange rates are set so that prices of similar products in different countries are unequal.
It does not really give a good sense of the standards of living around the world.
It reflects the principle that capitalism is a better system than communism.
None of these statements are accurate.

Accepted Answer

The answer of Which of the following is accurate regarding...

Question 9

________ is GDP measured in current dollars with all components valued at current prices.
Per capita GDP
Net GDP
Adjusted GDP
Nominal GDP
Real GDP

Accepted Answer

The answer of ________ is GDP measured in current dollars...

Question 10

Which of the following best describes the term gross national product?
Total quantity of goods and services produced by an economic system
Total value of all goods and services produced by a national economy within a given period regardless of where the factors of production are located
Total value of all goods and services produced within a given period by a national economy through domestic factors of production
Total quantity and quality of goods and services that a country's citizens can purchase with the currency used in their economic system
Conditions of the economic system in which an organization operates

Accepted Answer

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Question 11

________ is a measure of economic growth that compares how much a system produces with the resources needed to produce it.
Purchasing power parity
Stability
Recession
Inflation
Productivity

Accepted Answer

The answer of ________ is a measure of economic growth...

Question 12

Which of the following would be excluded from the GDP of Brazil?
A Canadian company produces and sells products in Brazil
A U.S. company produces and sells products in Brazil
A Brazilian company produces and sells products in Canada
A Brazilian company produces and sells products in Brazil
it is not possible to tell given the information that is provided

Accepted Answer

The answer of Which of the following would be excluded...

Question 13

The ________ is the growth rate of GDP adjusted for inflation and change in value of the country's currency.
adjusted growth rate
gross national product
real growth rate
per capita GDP
real GDP

Accepted Answer

The answer of The ________ is the growth rate of...

Question 14

Which of the following would be included in the gross national product of Brazil?
The profits earned by a Brazilian coffee company operating in Canada
The wages paid to Peruvian workers producing coffee for a Canadian company
The profits earned by a Canadian coffee company operating in Peru
The profits earned by a Canadian-owned automobile plant in Brazil
The wages paid to Peruvian workers producing coffee for sale in Canada

Accepted Answer

The answer of Which of the following would be included...

Question 15

When comparing GPI to GDP, it is correct to say that
GPI is a better indicator of economic progress than GDP.
GPI treats activities that harm our quality of life as costs and gives them negative values.
GPI is a better measure of economic growth for advanced industrial countries, but GDP is a better measure for developing countries.
the activities required to clean up an oil spill are not included in the calculation of GDP.
none of these are correct.

Accepted Answer

The answer of When comparing GPI to GDP, it is...

Question 16

Which country has the highest GDP per capita?
Brazil
Canada
Qatar
Luxembourg
United States

Accepted Answer

The answer of Which country has the highest GDP per...

Question 17

How is per capita GDP computed?
GDP minus all expenses incurred to generate GDP
Gross wages earned by all workers in Canada divided by the number of workers
GNP divided by Canada's population
Total gross domestic product divided by Canada's population
GNP minus GDP

Accepted Answer

The answer of How is per capita GDP computed?
GDP minus...

Question 18

Which of the following would be excluded from the GDP of Canada?
A Canadian company produces and sells products in Brazil
A U.S. company produces and sells products in Canada
A Canadian company produces and sells products in Canada
A Brazilian company produces and sells products in Canada
it is not possible to tell given the information that is provided

Accepted Answer

The answer of Which of the following would be excluded...

Question 19

Canada's GDP in 2012 was about
$575 billion.
$1 trillion.
$1.7 trillion.
$2.8 trillion.
$8.3 trillion.

Accepted Answer

The answer of Canada's GDP in 2012 was about
$575 billion.
$1...

Question 20

Canada's GDP per capita (in $US) is approximately
$15 000.
$31 000.
$42 000.
$50 000.
$66 000.

Accepted Answer

The answer of Canada's GDP per capita (in $US) is...

Quiz 2: The Environment of Business

The ________ is the economic value of all the products that a country exports minus the economic value of imported products. real GDP gross national product nominal GDP balance of trade national debt

If GDP is going up, the nation is experiencing inflation. growth. an increase in demand. a recession. it is not possible to tell given the information provided.

The principle of ________ states that exchange rates are set so that the prices of similar products in different countries are about the same. nominal GDP gross national product consumer price index equal prices purchasing power parity

________ is GDP measured in current dollars with all components valued at current prices. Per capita GDP Net GDP Adjusted GDP Nominal GDP Real GDP

________ is a measure of economic growth that compares how much a system produces with the resources needed to produce it. Purchasing power parity Stability Recession Inflation Productivity

The ________ is the growth rate of GDP adjusted for inflation and change in value of the country's currency. adjusted growth rate gross national product real growth rate per capita GDP real GDP

Which country has the highest GDP per capita? Brazil Canada Qatar Luxembourg United States

How is per capita GDP computed? GDP minus all expenses incurred to generate GDP Gross wages earned by all workers in Canada divided by the number of workers GNP divided by Canada's population Total gross domestic product divided by Canada's population GNP minus GDP

Canada's GDP in 2012 was about $575 billion. $1 trillion. $1.7 trillion. $2.8 trillion. $8.3 trillion.

Canada's GDP per capita (in $US) is approximately $15 000. $31 000. $42 000. $50 000. $66 000.