GDP, inflation and exchange rates

Question 1 of 10

Gross Domestic Product (GDP) is the total value of

A. imports only B. all money in the banks C. final goods and services produced within a country in a year D. government spending only

Question 2 of 10

A fall in the value of the cedi against the dollar makes Ghana's imports

A. more expensive B. cheaper C. free D. unchanged

Question 3 of 10

A CPI rising from 120 to 132 shows an inflation rate of

A. 10% B. 12% C. 132% D. 8%

Question 4 of 10

If nominal GDP rises by 12% and prices rise by 8%, real GDP grows by about

A. 4% B. 20% C. 12% D. 8%

Question 5 of 10

Per capita income is

A. national income divided by population B. national income times population C. total exports D. government income

Question 6 of 10

A depreciation of the cedi against the dollar makes Ghana's imports

A. cheaper in cedis B. more expensive in cedis C. unaffected D. free

Question 7 of 10

Inflation caused by rising production costs is

A. cost-push inflation B. demand-pull inflation C. deflation D. stagflation

Question 8 of 10

The Consumer Price Index rises from 110 to 120. What is the rate of inflation?

A. 120% B. 10% C. 12% D. about 9.1%

Question 9 of 10

Appreciation of the cedi makes imports

A. cheaper B. more expensive C. banned D. unchanged

Question 10 of 10

The Consumer Price Index measures changes in

A. the prices of a basket of goods and services B. the population C. exports only D. interest rates

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New set of questions

Questions written by OtisamLMS in the style of the WASSCE. They are not WAEC past questions.

Past questions, worked solutions and curriculum-mapped study material for JHS and SHS students and teachers in Ghana.

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