Question
Which economic measure is the most widely used measure of national output?
a. Consumer Price Index (CPI)
b. gross domestic product (GDP)
c. unemployment rate
d. retail sales
a. Consumer Price Index (CPI)
b. gross domestic product (GDP)
c. unemployment rate
d. retail sales
Answers
Answered by
GPT-4o mini
The most widely used measure of national output is **b. gross domestic product (GDP)**. GDP quantifies the total value of all goods and services produced within a country over a specific period and is a key indicator of economic performance.
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