background + GDP

Question 1

goal of an economic activity

Answer 1

reduce
scarcity and satisfy human wants

Question 2

Macroeconomics

Answer 2

Focuses on the economy-wide phenomena
Focuses on the holistic view of an economy

Question 3

Three principal policy goals for macro economy

Answer 3

Economic Growth
Low Inflation
Low Unemployment

Question 4

GDP = ?

Answer 4

C + I + G + (X-M)

Question 5

GDP per capita = ?

Answer 5

GDP / Population

Question 6

Real GDP = ?

Answer 6

Nominal GDP/GDP Deflator × 100

Question 7

GDP future = ?

Answer 7

GDP present × (1 + Rate)^Years

Question 8

GDP Growth Rate= ?

Answer 8

(GDP in Year 2 - GDP in Year 1/GDP in Year 1) × 100

Question 9

Productivity formula

Answer 9

what is produced/what is required to produce =Output/Input