Question

Many countries, including the United States, measure output by calculating the _____.A. Gross Domestic ProductB. economic peaksC. economic cycle

Answer 1

Answer:

A. Gross Domestic Product

Explanation:

The gross domestic product is the sum of all final goods and services produced in an economy within a given period which is usually a year.

Gross domestic product can be calculated in 3 ways:

1. Expenditure approach

2. National output

3. National income

Expenditure approach = Consumption spending by households + Investment spending + Government Spending + Net Export

I hope my answer helps you