The Three Main Methods of Measuring GDP Are The

question 72

Multiple Choice

The three main methods of measuring GDP are the:

• A)multiplier method, the production method, and the expenditure method.
• B)goods and services method, the production method, and the expenditure method.
• C)income method, the production method, and the expenditure method.
• D)consumption method, the savings method, and the investment method.

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Definitions:

Macro-Economics

the branch of economics that deals with broad economic factors, such as national income, overall price levels, and the balance of trade, among entire economies.

Sociological Issues

Social problems or conditions that affect individuals, groups, or entire societies, often requiring intervention to resolve.

Rosa Luxemburg

A Polish Marxist theorist, philosopher, economist, anti-war activist, and revolutionary socialist.

Social Contract

A theoretical agreement within society where individuals consent to surrender some freedoms for the protection and benefit of the community as a whole.