GDP is used by economists to measure
A) the market value of final goods and services produced over a particular time period.
B) the overall well-being of society enjoyed over a particular time period.
C) the overall efficiency of the macro economy over a particular time period.
D) the economic strength of the nation.
A
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The expression "increase in quantity supplied" is illustrated graphically as a
A) leftward shift in the supply curve. B) rightward shift in the supply curve. C) movement up along the supply curve. D) movement down along the supply curve.
There are two major Internet service providers in Eduland. One company has a market share of 60% and the other firm has a market share of 40%. The Herfindahl-Hirschman Index for this industry is ________
A) 100,000 B) 1,200 C) 5,200 D) 100
Exchange controls in Peru _________
a. reduce quotas b. are illegal c. reduce tariffs d. are designed to float the exchange rate e. will ease the pressure on Peru's foreign exchange reserves if its exchange rate is fixed
The term quantity supplied refers to the quantities of a good that sellers are willing and able to sell at all prices
a. True b. False Indicate whether the statement is true or false