One Way That Economists Measure the Performance of an Economy

question 33

Multiple Choice

One way that economists measure the performance of an economy is by looking at a widely used measure of total output know as the _____.

• A) leading economic indicator
• B) consumer confidence index
• C) business cycle
• D) gross domestic product

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Definitions:

Behavioral Measures

The assessment of individual actions and performances through quantifiable means in various contexts including work or research settings.

Demographic Variables

Demographic variables are characteristics of populations, such as age, sex, income level, race, employment, and geographic location, which are used in research to segment and understand target markets or groups.

Past Conduct

Previous actions or behavior of an individual or organization, which can influence current assessments or decisions.

Social Orientation

An individual's or group's preferences, attitudes, or behaviors towards social interactions and community involvement.