Why might an economist examine GDP per capita as well as total GDP?
Correct answer(s):
- It relates output to population size.
Topic
California Economy
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Quizzes in California Economy for HSC
How does the Bay Area connect to the global economy?
Correct answer(s):
- Through technology, finance, capital, and innovation networks
How can diversification improve California’s economic resilience?
Correct answer(s):
- Weakness in one sector may be partly offset by strength in others.
How does San Diego’s location influence its economy?
Correct answer(s):
- Its proximity to Mexico supports cross-border trade and labor connections.
Which concept helps explain why technology firms cluster in Silicon Valley?
Correct answer(s):
- Agglomeration economies
Which measure is most appropriate for comparing California’s total economic output with another state?
Correct answer(s):
- GDP
Why can nominal GDP rise even when real production changes little?
Correct answer(s):
- Prices may rise.
Why do economists use real GDP?
Correct answer(s):
- To measure output changes after adjusting for price changes