The total output of an economy can be measured as the:
A) net value of the goods and services produced by ?rms in an economy.
B) value of household earnings spent outside the economy.
C) net value of corporate and income taxes paid.
D) value of non-monetary transactions within the economy.

Question

Quizplus · Accepted Answer

The total output of an economy is best measured as the net value of the goods and services produced by firms within that economy. This is essentially what Gross Domestic Product (GDP) represents, capturing the economic activity and output in monetary terms.

The Total Output of an Economy Can Be Measured as The