The Total Market Value of Final Goods and Services Produced

question 39

Multiple Choice

The total market value of final goods and services produced in an economy during a one-year period is

• A) Gross Domestic Product.
• B) net national product.
• C) profit.
• D) personal income.

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Definitions:

Closed-Class Societies

Societies with rigid social structures that limit upward mobility and social movement between classes.

Caste-Structured

Pertains to societies or social systems organized by a hierarchy of social classes or castes, where individuals' positions are determined by birth.

Open-Class Societies

Societies characterized by fluid social systems in which individuals can change their social status, class, or mobility through their actions, contributions, or achievements.

Unilineal Descent

A system of lineage or ancestry tracing in which descent is reckoned either through the male line (patrilineal) or the female line (matrilineal) exclusively.