GDP May Be Defined As

question 33

Multiple Choice

GDP may be defined as:

• A)the monetary value of all goods and services (final, intermediate, and non-market) produced in a given year.
• B)total resource income less taxes, saving, and spending on exports.
• C)the economic value of all economic resources used in the production of a year's output.
• D)the market value of all final goods and services produced within country in a specific year.

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Definitions:

Tuition Hike

An increase in the fees charged by educational institutions for enrollment and instruction.

Correlational Research

A method of research that determines the degree to which two variables are related without establishing a cause-and-effect relationship.

Prediction

the act of forecasting or estimating a future event based on current information or trends.

Random Sampling

A method of selecting a sample from a population in such a way that each member has an equal chance of being chosen.