The Most Important Use of GDP Is as a Measure

question 305

Multiple Choice

The most important use of GDP is as a measure of:

• A)the size of the economy.
• B)the level of unemployment.
• C)changes in the price level.
• D)rates of return in financial markets.

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Definitions:

Population

In statistics and demography, a comprehensive group of individuals or items that share one or more characteristics from which data can be gathered and analyzed.

Double-blind Study

A study design in which neither the participants nor the researchers know which participants belong to the control group and which belong to the experimental group until the conclusion of the research.

Experimental Drug

A pharmaceutical compound that is in the process of being tested for effectiveness and safety in treating a particular disease or condition but has not yet received governmental approval for general use.

Placebo

A substance with no therapeutic effect, used as a control in testing new drugs.