One Way That Economists Measure the Performance of an Economy

question 28

Multiple Choice

One way that economists measure the performance of an economy is by looking at a widely used measure of total output know as the _____.

• A)consumer confidence index
• B)leading economic indicator
• C)gross domestic product
• D)consumer price index

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Definitions:

Merchandise Inventory

Merchandise inventory consists of products that a company intends to sell in the regular course of business.

Building Contractors

Professionals or companies responsible for the construction, repair, or renovation of buildings, overseeing project completion from start to finish.

Monthly Depreciation

The portion of a fixed asset's cost allocated as an expense over a single month, reflecting the asset's usage and loss of value.

Cash Balance

The total amount of cash or cash equivalents a company or individual holds at any given time.