BLOOMBERG CONCEPT QUESTIONS & ANSWERS

BLOOMBERG CONCEPT QUESTIONS & ANSWERS
Question :How accurately do GDP portray the economy
and why?
Correct answer:Inaccurately because the scope of GDP
measurements can change.
Question :Consider the formula GDP = C+I+G+(X-M). A
country is undergoing a boom in consumption of
domestic and foreign luxury goods. In one year, the dollar
growth in imports is greater than the dollar growth in
domestic consumption. Assuming nothing else has
changed, what happened to GDP?
Correct answer:It went down
Question :what is the meaning of each letter in the GDP
formula, C+I+G+(X-M).
Correct answer:C= Consumer spending
I = Investment (Gross Fixed Capital Formation)
G= Government Spending

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