Gross Domestic Product is: A. the industry expenditures on all final goods and services produced during the year at market prices B. the nation's expenditures on all final goods and services produced during the year at market prices C. the industry expenditures on all final goods and services produced during the year at governement set prices D. the nation's expenditures on all final goods and services produced during the year at government set prices
Gross Domestic Product is: A. the industry expenditures on all final goods and services produced during the year at market prices B. the nation's expenditures on all final goods and services produced during the year at market prices C. the industry expenditures on all final goods and services produced during the year at governement set prices D. the nation's expenditures on all final goods and services produced during the year at government set prices
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
- Gross Domestic Product is:
A. |
the industry expenditures on all final goods and services produced during the year at market prices |
|
B. |
the nation's expenditures on all final goods and services produced during the year at market prices |
|
C. |
the industry expenditures on all final goods and services produced during the year at governement set prices |
|
D. |
the nation's expenditures on all final goods and services produced during the year at government set prices |
Expert Solution
Step 1
Gross domestic product is a measure of nation’s economic growth .
Sustained increase in GDP results in increase in economic growth .
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