Which of the Following Statements About GDP Is Correct

question 23

Multiple Choice

Which of the following statements about GDP is correct?

• A)GDP measures two things at once: the total income of everyone in the economy and the total expenditure on the economy's output of goods and services.
• B)Money continuously flows from households to firms and then back to households,and GDP measures this flow of money.
• C)GDP is generally regarded as the best single measure of a society's economic well-being.
• D)All of the above are correct.

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Definitions:

Comprehensive Environmental Response

The Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA), is a federal law designed to clean up sites contaminated with hazardous substances and pollutants.

Pollution

The contamination of the environment, particularly air, water, and soil, with harmful or toxic substances.

Cleanup Order

A directive issued by a court or regulatory authority requiring the remediation of environmental contamination.

Federal Water Pollution Control Act

Also known as the Clean Water Act, this law, established in 1948 and significantly expanded in 1972, aims to regulate the discharge of pollutants into the waterways of the United States.