The Most Common Measure of the Size of an Economy

question 65

Multiple Choice

The most common measure of the size of an economy is:

• A) its national wealth.
• B) its GDP.
• C) its GDP per capita.
• D) its population.

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Definitions:

Rainfall

The amount of rain that falls over a specific area in a given period of time, often measured in millimeters.

Average

A statistical measure representing the central or typical value in a set of data, calculated primarily as the mean, median, or mode.

Total

It refers to the whole amount, quantity, or number of something, considered without divisions or exceptions.

Relative Frequency

The ratio of the number of times a particular event occurs to the total number of trials or instances.