5 Written questions
4 Multiple choice questions
- wealth and resources of a country in relation to production and consumption of goods and services.
- total value of all goods and services bought and sold in a year.
- total amount of goods and services brought into a country from another country for sale.
- total amount spent on healthcare by a country.
4 True/False questions
Expenditures → spending of money.
Developing nation → a country with a strong economy and high standard of living
Exports → total amount of goods and services brought to a country from another country for sale.
Unemployment rate → percentage change in the price of goods and services over the course of one year. Generally, as the price of goods rise, the buying power of money falls. This means that goods cost more as time goes on.