Author Question: Gross domestic product is the A) value of the final goods and services produced in a country ... (Read 119 times)

pepyto · **on:** Jun 29, 2018

Gross domestic product is the

A) value of the final goods and services produced in a country during a specific time.
B) total amount that buyers spent on the final goods and services produced in a country during a specific time.
C) total amount of income earned in producing the final goods and services in a country during a specific time.
D) All of the above answers are correct.

Question 2

In 2011, Armenia had a real GDP of 4.21 billion and a population of 2.98 million. In 2012, real GDP was 4.59 billion and population was 2.97 million. What was Armenia's economic growth rate from 2011 to 2012?

A) 0.38 percent
B) 9.0 percent
C) 3.8 percent
D) 8.3 percent