QQuestionEconomics
QuestionEconomics
"What describes gross domestic product (GDP)?
A. Percentage of workers who are out of work.
B. Increase in the average level of prices.
C. Rate of growth of residential construction.
D. Value of all goods and services produced in a country."
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Answer
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Step 1I'll solve this economics problem step by step:
Step 2: Understand the Key Terms
- GDP (Gross Domestic Product) is a fundamental economic indicator - It measures the total economic output of a country
Final Answer
Value of all goods and services produced in a country. Key Insight: GDP is the most comprehensive measure of a country's economic performance, capturing the total economic output across all sectors.
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