The most commonly used measure of economic health of a country is the country's ________.
A)gross domestic product (GDP)
B)gross national product (GNP)
C)exchange rate
D)cost of living
E)Big Mac Index

Question

Quizplus · Accepted Answer

Gross domestic product (GDP) is the most commonly used measure of the economic health of a country. It measures the total value of goods and services produced within a country's borders over a specific period of time, usually a year. It provides a good indication of the size and health of a country's economy. Gross national product (GNP) is similar to GDP, but also takes into account income earned by a country's citizens abroad. Exchange rate and cost of living are important economic indicators, but they do not provide an overall picture of the health of a country's economy. The Big Mac Index is a somewhat whimsical way of comparing purchasing power across different countries but is not a standard measure of economic health.

The Most Commonly Used Measure of Economic Health of a Country