A Measure of the Total Value of Goods and Services

question 70

Short Answer

A measure of the total value of goods and services produced by American economic activity is ______.

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Definitions:

Per Unit

A term used to express the cost, price, or quantity concerning a single unit of a product or service.

Tax Burden

The measurement of taxes paid by an individual or business, expressed as a percentage of income or profit.

Sellers

Individuals or entities that offer goods or services in exchange for monetary compensation or other forms of payment.

Per Unit

Refers to expressing a variable or a measure on a per single item basis.