We Measure Gross Domestic Product by Multiplying the Quantities of Goods

question 85

Multiple Choice

We measure gross domestic product by multiplying the quantities of goods by their prices because it allows us to

• A) express the values of products in a common unit of measurement.
• B) correct for inflation.
• C) directly compare the output of one economy to that of another.
• D) calculate the total number of units of goods produced in an economy.

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