The MOST Important Use of GDP Is as a Measure

question 121

Multiple Choice

The MOST important use of GDP is as a measure of:

• A) the size of the economy.
• B) the level of unemployment.
• C) changes in the price level.
• D) rates of return in financial markets.

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Definitions:

Taxed

Imposition of financial charges or other levies upon a taxpayer (an individual or legal entity) by a governmental organization in order to fund public expenditures.

Capitalist Economy

An economic system where trade, industry, and the means of production are largely or entirely controlled by private owners for profit.

Economic Infrastructure

The basic physical and organizational structures needed for the operation of a society or economy, like transportation, communication, and utilities.

Occupational Health

The field of healthcare and welfare that focuses on the physical and mental well-being of employees in the workplace.