Gross Domestic Product (GDP) Measures and Reports Output

question 117

Multiple Choice

Gross domestic product (GDP) measures and reports output

• A)as an index number.
• B)in percentage terms.
• C)in dollar amounts and percentage growth.
• D)in quantities of physical units (for example, pounds, gallons, and bushels).

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Definitions:

Contractual Vertical Marketing System

A system in which independent firms at different levels of the distribution chain work together through contractual agreements to achieve greater economies of scale and reach a greater market effectiveness than they could achieve alone.

Horizontal Marketing System

A collaboration strategy where companies at the same level of the value chain join forces to exploit a marketing opportunity.

Administered Vertical Marketing System

A coordinated marketing system managed by a single channel member to achieve efficient distribution.

Wholesaler-sponsored Voluntary Chains

Agreements between independent retailers and wholesalers to engage in bulk buying and standardized selling practices to compete with large chains.