How to Measure a Society's Economic Level


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question 1 of 3

What is the acronym for the metric economists use to measure the total income or total expenditures within the borders of a single nation or country?

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1. Why can GDP be defined as total income or total expenditures?

2. How can interest rates be used to determine the state of a nation's economy?

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About This Quiz & Worksheet

The quiz/worksheet combo helps test your knowledge of how to measure a society's economic level. Some topics on the interactive quiz include GDP and GNP.

Quiz & Worksheet Goals

With these materials, you can analyze your knowledge of:

  • The country that has the largest economy
  • Differences between GNP and GDP
  • Acronym used for measuring the total income within the borders of a single country
  • The definition of GDP
  • Determining the state of a nation's economy using interest rates

Skills Practiced

  • Information recall - access the knowledge you have gained about what GDP is used for
  • Distinguishing differences - compare and contrast main topics, such as GDP and GNP
  • Reading comprehension - ensure that you draw the most important details from the economics lesson on evaluating a society's economic status

Additional Learning

Check out the lesson titled How to Measure a Society's Economic Level. Doing so helps you review more about:

  • Components of economic activity
  • What GNP is used for
  • The importance of knowing interest rates