We Can Measure Total Production By

question 24

Multiple Choice

We can measure total production by:

• A) adding up what people spend on final goods and services.
• B) adding up everyone's asset wealth.
• C) comparing cost of inputs to final sale price.
• D) adding up all spending in the economy on all goods and services.

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Definitions:

Medicaid

A government-sponsored insurance program in the United States providing health coverage to people with low income.

War On Poverty

A set of government programs introduced in the 1960s in the United States aimed at reducing poverty rates through education, health care, and social services.

National Endowments

Financial grants provided by a government or large institution to support arts, sciences, education, and other public good initiatives.

Public Broadcasting Service

A non-profit television network in the United States, offering educational and cultural programming with the aim of enriching the public's knowledge.