Economists Generally Use GDP to Measure a Nation's Total Output

question 29

Multiple Choice

Economists generally use GDP to measure a nation's total output because it is

• A) equal to the sales value of all transactions conducted during a period and thus can be easily calculated.
• B) the best available measure of the true costs of producing consumer goods.
• C) unaffected by changes in the prices of products over time.
• D) a relatively reliable measure of the value of all final product goods and services produced during a specific time period.

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Definitions:

Explicit Associations

Refers to the direct and conscious connections made between ideas, thoughts, or symbols.

Correlated

When two or more variables are related in some manner, indicating a statistical relationship.

Ambivalence

The state of having mixed feelings or contradictory ideas about something or someone.

Attitude And Behaviour

Refers to the connection between one's personal feelings or beliefs (attitude) and the way one acts or reacts (behaviour).