Which of the Following Is the Most Basic Measure of Economic

question 11

Multiple Choice

Which of the following is the most basic measure of economic growth?

• A) consumer price index
• B) producer price index
• C) gross domestic product
• D) total of all goods and services produced

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Definitions:

Price

The expenditure required to procure a good, service, or asset.

Income

The amount of money received by an individual or entity over a specified period, usually through employment, business, or investments.

Demand Curve

A graph representing the relationship between the price of a good and the quantity demanded by consumers.

Income

Financial gains accrued from work or investments over time.