Gross Domestic Product Clicker Questions

[#1]

Which of the following is considered part of GDP?

A) German-made car you bought at a local dealership

B) Jeans you bought at Goodwill

C) Stocks and bonds

D) Jeans you bought at Macy's

E) All of the above

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Which of the following is NOT considered part of GDP?

A) an oil change from a car mechanic

B) a window washing from a housecleaning company

C) a sofa you bought at a garage sale

D) a sandwich bought in a cafeteria

E) none of the above

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Suppose a sandwich maker pays $3 for tomatoes and lettuce, $1 for bread, and $2 for ham. She then sells each ham sandwich for $10. How much does each sandwich contribute to GDP?

A) $4

B) $6

C) $10

D) $16

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[Discussion starter] True or False: If GDP is growing, a country's citizens must be better off.

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[Discussion starter] True or False: Median household income and GDP per capita always move together (e.g., if one goes up, the other also goes up).