Gross Domestic Product Easy MCQs

Here are the various Solved MCQs especially of Gross Domestic Product. These MCQs will develop your concept and help to improvise your exams preparation. A soft copy of these MCQs is also available.

What is Gross Domestic Product?

  1. The economic value of homemaker services:
    1. Is included in GDP only for urban house holds
    2. Cannot be calculated because involves a non-market transaction
    3. Is zero because no transaction is involved
    4. May be as much as 15 percent of GDP
  2. Which of the following is a correct statement about economic “bads”?
    1. All economic bads are illegal
    2. Economic bads are excluded from the MEW concept
    3. The pollution created by business firms is an economic bad
    4. Economic bads can contribute to society’s well-being
  3. The most common way of controlling the money supply is:
    1. Changes in the required-reserve ratio
    2. Changes in the discount rate
    3. Moral suasion
    4. Open-market operations
  4. Gross domestic product is defined to equal the:
    1. Total output produced by U.S. factors of production no matter their location
    2. GNP less depreciation costs
    3. GNP less net exports
    4. Total output produced by factors of production in the U.S. irrespective of their ownership
  5. Which of the following transactions would be counted in the GDP?
    1. Purchase of chemicals by a videodisc producer
    2. Sale of 100 shares of GM stock
    3. Purchase of body building equipment by a health spa
    4. Sale of lumber to a housing contractor

Quiz with Answers

0%

Economics 1486-1490

If you found any error, please highlight in Comments Section. Thanks

1 / 5

The economic value of homemaker services:

2 / 5

Which of the following is a correct statement about economic “bads”?

3 / 5

The most common way of controlling the money supply is:

4 / 5

Gross domestic product is defined to equal the:

5 / 5

Which of the following transactions would be counted in the GDP?

Your score is

0%

Please click the stars to rate the quiz

Method to attempt the Quiz

  • Each Question has 4 Options out of which one option is Correct and probably three other options are wrong
  • To choose your Answer, click any one option out of four.
  • As you select your option, it will immediately tell you whether your selected option is Correct by highlighting in Light Green or Wrong by highlighting in Light Red.
  • To attempt the next question, you can click the Next button at the end of each Question. You can proceed to the Next Question without answering the previous one.
  • Once you attempt all the questions or either not, you can click the “See Results” button given at the end of this quiz, and then quiz results will be shown to you.

You can share the quiz on Facebook and Twitter to invite your class-fellows and friends to attempt this quiz.

Gross Domestic Product
Gross Domestic Product

To find other MCQs, Short Questions and Long Questions of Economics at DarsoTadrees, Click on Economics Category

Please remember, DarsoTadrees is offering free guidance to students. You can support DarsoTadrees by spreading DarsoTadrees and its posts on your social networks like Facebook, Twitter, etc.

Leave a Reply

Your email address will not be published. Required fields are marked *

Economics

Investment Expenditures MCQs 1481 to 1485

Economics

Ratio of Money Supply MCQs 1491 to 1495