Author Question: Does the gross domestic product account measure the market value of all goods and services? A) ... (Read 70 times)

meagbuch · **on:** Jun 29, 2018

Does the gross domestic product account measure the market value of all goods and services?

A) No, because that would include double-counting.
B) Yes, because the data is readily available.
C) Yes, except for illegally exchanged goods and services.
D) Yes, otherwise the gross domestic product accounting system is not a reliable indicator of economic activity.

Question 2

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.