Question Details

Gross domestic product (GDP) measures the



1) Gross domestic product is the total ________ produced within a country in a given time period.
A) market value of all final and intermediate goods and services
B) market value of all goods and services
C) amount of final and intermediate goods and services
D) market value of all final goods and services
2) Gross domestic product
A) includes all the goods and none of the services produced in an economy in a given time
period.
B) measures the value of the aggregate production of goods and services in a country during
a given time period.
C) measures the value of labor payments generated in an economy in a given time period.
D) is generally less than federal expenditure in any time period.
3) Gross domestic product is a measure of the total value of all
A) sales in an economy over a period of time.
B) consumer income in an economy over a period of time.
C) capital accumulation in an economy over a period of time.
D) final goods and services produced in an economy over a period of time.
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Chapter 4 Measuring GDP and Economic Growth 493
4) Gross domestic product (GDP) is the ________ in a given time period.
A) value of personal consumption expenditures, gross private domestic investment, and
federal government expenditures
B) sum of wage and salary compensation of employees and corporate profits
C) value of all final and intermediate goods and services produced by the economy excluding
those goods exported to foreign nations
D) market value of final goods and services produced by the economy
5) Gross domestic product (GDP) measures the
A) number of final goods and services produced in the economy in a given time period.
B) number of final goods and services sold in the economy in a given time period.
C) market value of old and new final goods and services sold in the economy in a given time
period.
D) market value of final goods and services produced in the economy in a given time period.



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