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Colorado GDP

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Quizzes in Colorado GDP for HSC

U.S. Economy

Why can GDP rise without every Colorado household becoming better off?

  • Household welfare always equals output
  • GDP measures total production, not how income is distributed
  • GDP is the same as household income
  • GDP measures only prices
Correct answer(s):
  • GDP measures total production, not how income is distributed
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U.S. Economy

What can make current-dollar GDP rise even if physical output changes little?

  • A new state symbol
  • More counties
  • Higher prices
  • Lower elevation
Correct answer(s):
  • Higher prices
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U.S. Economy

What limitation should be remembered when using GDP per capita to compare Colorado with other states?

  • It can hide inequality and differences in living costs
  • It includes no production
  • It cannot be calculated
  • It measures every household exactly
Correct answer(s):
  • It can hide inequality and differences in living costs
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