Gross domestic product in the economy is measured by the
A) total number of services produced in the economy.
B) dollar value of all final goods and services produced in the economy.
C) total number of goods and services produced in the economy.
D) total number of goods produced in the economy.
B
You might also like to view...
Use the table below to answer this question, which provides information on the production of a product that requires one variable input.InputTotal Product0015220332442550655758858956With the addition of the second unit of input, the marginal product is ________ and the average product is ________.
A. 10; 15 B. 15; 20 C. 25; 10 D. 15; 10
In a market system, the ultimate decision about what to produce is left to
A) buyers. B) the government. C) sellers. D) households.
If the rate of inflation in a given time period turns out to be higher than lenders and borrowers anticipated, then the effect will be:
a. no change in the distribution of wealth between lenders and borrowers. b. a net gain in purchasing power for lenders relative to borrowers. c. a redistribution of wealth from borrowers to lenders. d. a redistribution of wealth from lenders to borrowers.
In the United States, consumers usually pay less than the true cost of medical treatment because of
A) adverse selection. B) rising insurance premiums. C) third-party payers. D) rising insurance deductibles.