Unit 3: Macroeconomics
Topic 3.1: Measuring Economic Activity and Illustrating Its Variations Questions
Practice 20 exam-style questions for IB Economics Topic 3.1. Review the question stems below, then unlock the full Question Bank to access markschemes, model answers, and AI grading.
31 mark
Real GDP differs from nominal GDP because real GDP:
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During the expansion phase of the business cycle, which of the following is most likely?
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During the expansion phase of the business cycle, which of the following is most likely?
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Describe the four phases of the business cycle.
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Distinguish between nominal GDP and real GDP.
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Real GDP differs from nominal GDP because real GDP:
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Describe the four phases of the business cycle.
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Distinguish between nominal GDP and real GDP.
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When comparing GDP between countries, it is preferable to use GDP per capita at PPP because:
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Explain two items that are excluded from GDP calculations and why.
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If nominal GDP increases by 8% and the inflation rate is 3%, real GDP has increased by approximately:
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