Download File

Name________________________________________________________ Class Period_____________
GDP Worksheet
Final versus Intermediate Goods
Write an F (final) or I (Intermediate) for the good or service listed below.
1. ______Bread
2. ______Flour for making bread
3. ______ Cloth for making dresses
4. ______ dresses
5. ______ Manicures
6. ______ glass in new automobiles
7. ______ Lumber in a new house
Measuring the Performance of the Economy
Listed below are all items consumed in Freytopia and the total spending on each item. In the space next to each item, classify
the item as consumer goods and services (C), government purchases of goods and services (G), investment goods (I), or
exports/imports (X).
GDP ITEM
8. _____schools
9. _____groceries
10. _____ exports to Canada
11. _____clothing
12. _____park maintenance
13. _____Movie rentals
14. _____ new fruit and vegetable warehouses
15. _____ new roads and bridges
16. _____new cars
17. _____ exports to the US
MARKETVALUE
5 million dollars
35 million dollars
3 million dollars
15 million dollars
0.5 million dollars
0.5 million dollars
1 million dollars
3 million dollars
3 million dollars
5 million dollars
18. How much is the total consumer spending?
19. How much is the total investment spending?
20. How much is the total government spending?
21. How much is the total export/import spending?
22. Using the formula, C+I+G+X=GDP, what is Freytopia’s GDP?
GDP=C+I+G+(X-M)
23. If GDP is $75 million next year, did GDP increase or decrease? Describe what’s happening in the economy
regarding jobs and business opportunities.
24. What is the gross domestic product of a country if: Consumer Spending = $103 billion
Government Spending = $27 billion Business Spending = $64 billion Exports – Imports = $29
billion
25. What is the gross domestic product of a country if: Consumer Spending = $704 billion
Government Spending = $31 billion Business Spending = $108 billion Exports = $65 billion
Imports = $24 billion
26. What is the gross domestic product of a country if: Consumer Spending = $653 billion
Government Spending = $49 billion Business Spending = $96 billion Exports = $62 billion Imports
= $76 billion Gross Domestic Product Individual Practice
27. What is the gross domestic product of a country if: Consumer Spending = $342 billion
Government Spending = $292 billion Business Spending = $102 billion Exports – Imports = $48
billion
28. What is the gross domestic product of a country if: Consumer Spending = $594 billion
Government Spending = $119 billion Business Spending = $255 billion Exports = $179 billion
Imports = $32 billion
29. What is the gross domestic product of a country if: Consumer Spending = $429 billion
Government Spending = $258 billion Business Spending = $313 billion Exports = $77 billion
Imports = $94 billion