When economists measure gross national product, what is being measured within a specific time period, regardless of location?
A) The aggregate output
B) The economic growth of the nation
C) The growth of domestic factors of production
D) The growth rate adjusted for inflation
E) The total value of all goods and services
Answer: E
Explanation: E) Economists also measure gross national product (GNP), which refers to the total value of all goods and services produced by a national economy within a given period regardless of where the factors of production are located.
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