Topic

GDP and Economic Measures

Practice related MCQ quizzes and improve step by step.

Quizzes in GDP and Economic Measures for SSC

U.S. Economy

Why should California GDP not be treated as state government revenue?

Government revenue includes all private sales.
GDP measures production, while government revenue measures public-sector receipts.
GDP and tax revenue are always identical.
GDP measures only state taxes.

Correct answer(s):

GDP measures production, while government revenue measures public-sector receipts.

U.S. Economy

Why is GDP different from household or personal income?

GDP measures production rather than the income received by a particular household or person.
GDP is simply average household salary.
Personal income measures total state production.
GDP measures only wages.

Correct answer(s):

GDP measures production rather than the income received by a particular household or person.

U.S. Economy

Why should a quarterly GDP figure reported at an annual rate not be called the final annual GDP?

It extrapolates one quarter’s pace rather than reporting a completed year.
It includes no economic activity.
It is always a ten-year average.
It measures only population.

Correct answer(s):

It extrapolates one quarter’s pace rather than reporting a completed year.

U.S. Economy

About how large was California’s current-dollar GDP in 2025?

$1.1 trillion
$9.8 trillion
$425 billion
$4.25 trillion

Correct answer(s):

$4.25 trillion

U.S. Economy

How did California rank among U.S. states by GDP in 2025?

Fiftieth
Twenty-fifth
Tenth
First

Correct answer(s):

First

U.S. Economy

What does gross domestic product measure?

Only household savings
Only imports entering a state
Only government tax revenue
The value of goods and services produced within an economy

Correct answer(s):

The value of goods and services produced within an economy