Question

Select the correct answer. If you want to analyze the total annual production of goods, services, and structures within a nation, which economic figure should you reference? A. inflation B. consumer price index (CPI) C. gross domestic product (GDP) D. unemployment rate E. deflation
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Answer 1

Answer:

C. gross domestic product (GDP)

Explanation:

• A gross domestic perfection is a rate that is used to tell whether a country's economy is rising or falling and his measure tells exactly in the consumption and the spending power of the nations.

• As the measure of the economic growth the GDP is a sum of the total pr annual product that takes place in the country during that period. And gives a market value of all the produce either good and the services.

• The GDP can be calculated as  GDP = private consumption + gross investment + government investment + government spending + (exports – imports).