Gross Domestic Product Is

question 53

Multiple Choice

Gross domestic product is

• A) not a useful indicator of prosperity.
• B) the only indicator of prosperity that economists use.
• C) one of many indicators of prosperity, some of which are monetary, and some of which are nonmonetary.
• D) one of many indicators of prosperity, all of which are monetary in nature.

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Definitions:

Uniform Partnership Act

A set of laws adopted by states that governs the formation, operation, and dissolution of partnerships.

Model Business Corporation Act

A set of model laws prepared to provide a standard for state corporation statutes and promote uniformity in business law among the states.

Express Agreement

A contract in which the terms and intentions of the parties are stated clearly, either orally or in writing.

Day-to-day Business

The routine activities and operations conducted by a business or organization on a daily basis.