Gross Domestic Product Measures

question 159

Multiple Choice

Gross Domestic Product measures

• A) the total value of labor used in the economy.
• B) the total market value of final goods and services produced within a nation's borders.
• C) the total income received by residents of a nation.
• D) the total worth of all goods consumed within the borders of a nation.

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Definitions:

Instinctive Impulses

Inborn biological urges that direct behavior towards fulfilling essential needs such as hunger or defense.

Information-Processing

The manner in which individuals perceive, analyze, manipulate, and store information.

Computer

An electronic device capable of processing, storing, and retrieving data, performing calculations, and executing programmed instructions.

Inventions

Unique or novel devices, methods, or processes that result from study and experimentation.