Question

There are innovations involving new ways to produce and conserve energy. If we can turn this new technology into marketable products and services that produce energy to run our businesses and homes, the U.S. could see a surge in output of goods and services. What would be measured to document this surge?

Answer 1

Answer:

The correct answer is Gross Domestic Product.

Explanation:

GDP measures the total production of goods and services in a country, so its calculation is quite complex. We need to know and add up all the final goods and services that the country has produced. That is to say the production of apples, milk, books, boats, machines and all the goods that were produced in the country, up to the services of a taxi, a dentist, a lawyer or a teacher, among others. Some data is not included simply because it cannot be counted or known. For example, self-consumption goods or the so-called underground economy for example.