A Measure of the Output of Goods and Services in an Economy

question 34

Multiple Choice

A measure of the output of goods and services in an economy is called:

• A) output
• B) money supply
• C) gross domestic product
• D) velocity

---

Definitions:

Flynn Effect

The observed rise over time in standardized intelligence tests scores, attributed to various factors including improved nutrition and education.

Ethnic Groups

Categories of people who identify with each other based on common ancestral, social, cultural, or national experiences.

Decades

Periods of ten years, often used as a measure of time to note changes, trends, or developments.

Mean IQ Scores

The average score derived from standardized intelligence testing, used as an indicator of relative intelligence across a population.