This Is the Value of the Output of Goods and Services

question 52

Multiple Choice

This is the value of the output of goods and services produced in a country in a year,including money that leaves and enters the country.

• A) Gross Domestic Product
• B) Purchasing Power Parity
• C) Gross National Income
• D) Human Development Index
• E) Gross Empowerment Product

---

Definitions:

Insurable Interest

A requirement stating that a person seeking to purchase an insurance policy must have a direct interest in protecting the object of the insurance from loss.

Equitable Interest

A legal interest in property that gives a party a financial stake or benefit in the property, though not necessarily an ownership interest.

Life Insurance Policy

A contract between an individual and an insurance company, where the company pays a designated beneficiary a sum of money upon the death of the insured person.

Covered Peril

A specific risk or cause of loss that is protected against under the terms of an insurance policy.