Welcome to your Grade 10 Economics chapter 7
After carefully reading the following 30 questions, choose the correct answer.
1.
Which component of GDP includes the spending on goods and services by local, state, and federal governments?
2.
What is the formula used to calculate Net Exports in the expenditure approach to GDP?
3.
In the context of Ethiopian GDP, what does "Consumption" primarily refer to?
4.
Which of the following is considered a component of "Investment" in GDP calculation?
5.
Why is a domestic purchase of an imported good neutral toward the total GDP?
6.
Which GDP measure is adjusted for inflation by using constant prices?
7.
Nominal GDP is calculated using which of the following?
8.
Which sector has traditionally been the backbone of the Ethiopian economy?
9.
In terms of volume of output in Ethiopia, which production category typically ranks first?
10.
What is the main objective of the Industrial Development-Led Agriculture Strategy (IDLA) in Ethiopia?
11.
Which of the following is a characteristic of the service sector in Ethiopia?
12.
What does the term "Real GDP" help economists understand better than "Nominal GDP"?
13.
Which sub-sector is part of the industrial sector in Ethiopia?
14.
Which factor has significantly promoted the floriculture industry in Ethiopia?
15.
What is the primary role of the agricultural sector regarding the industrial sector in Ethiopia?
16.
When calculating GDP using the expenditure approach, which of the following is NOT a main component?
17.
How is the "Net Export" component affected when a country's imports exceed its exports?
18.
Which sector is responsible for forward and backward linkages in the Ethiopian economy?
19.
What happens to Nominal GDP if prices rise but the quantity of goods produced stays the same?
20.
In the expenditure approach, "Government Purchases" excludes which of the following?
21.
Which sector usually includes telecommunications and tourism?
22.
Real GDP is used to measure economic growth because it:
23.
Which of these is a major export item for Ethiopia’s agricultural sector?
24.
Why are "Intermediate Goods" excluded from the final GDP calculation?
25.
The industrial sector in Ethiopia is expected to create:
26.
If a country has 500 million Birr in exports and 700 million Birr in imports, what is the Net Export value?
27.
Which of the following describes the "Service Sector"?
28.
The "Base Year" is used in the calculation of:
29.
In the circular flow of the Ethiopian economy, households provide:
30.
Which of these is a challenge for the Ethiopian industrial sector?
