Gross Domestic Product Adds Together Many Different Kinds of Goods

question 107

Multiple Choice

Gross domestic product adds together many different kinds of goods and services into a single measure of the value of economic activity.To do this,GDP makes use of

• A)market prices.
• B)statistical estimates of the value of goods and services to consumers.
• C)prices based on the assumption that producers make no profits.
• D)the maximum amount consumers would be willing to pay.

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Definitions:

Descending Plate

A section of the earth's crust that moves downward into the mantle beneath another plate, often responsible for volcanic activity and earthquakes.

Eruptions

Violent expulsions of materials from a volcano or geothermal vent, including lava, ash, and gases.

Accretionary Prism

A prism- or wedge-shaped, structurally complex zone of faults, folds, and mostly metamorphosed rocks that form along the upper parts of a subduction zone; material derived from sediment contributed by adjacent volcanoes or a continent, along with oceanic crust scraped off the downgoing slab.

Oceanic Trench

Deep, narrow depressions in the ocean floor, often associated with subduction zones where one tectonic plate is diving beneath another.