How Is GDP Computed

question 145

Multiple Choice

How is GDP computed?

• A)Add up the quantities of all final goods and services.
• B)Add up the cost of producing final goods and services.
• C)Use weights determined by a survey regarding how much people value different sorts of goods and services to compute GDP as a weighted average.
• D)Add up the market values of all final goods and services produced within a country in a given period of time.

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Definitions:

Ethnic Group

A category of people who identify with each other based on shared attributes such as culture, language, or ancestral origins.

Racism

Prejudice, discrimination, or antagonism directed against individuals of a different race based on the belief that one's own race is superior.

Scapegoat

An individual or group blamed for problems or negative outcomes, often as a means of deflecting responsibility or criticism.

Native Americans

The indigenous peoples of the United States, including those on the mainland and in Alaska, but excluding those in Hawaii.