Multiple Choice
Which of the following statements regarding the gross domestic product is true?
A) It is useful in comparing the overall performance of different economies at the same time.
B) It measures aggregate income in an economy over a period of ten years.
C) It measures the value of all goods and services produced in the world during a given period.
D) It is a measure of an economy's price level during a particular year.
E) It records the cumulative value of all goods and services produced by domestically owned factors of production.
Correct Answer:
Verified
Correct Answer:
Verified
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