The MOST important use of GDP is as a measure of:
A) the size of the economy.
B) the level of unemployment.
C) changes in the price level.
D) rates of return in financial markets.

Question

Quizplus · Accepted Answer

GDP is primarily used as a measure of the size or total output of an economy. It is a measure of the monetary value of all final goods and services produced within a country's borders during a specific period of time. It is the most widely used measure for comparing the economic performance of countries and for tracking economic growth over time. While GDP can provide some insight into employment levels, inflation, and financial returns, its primary function is to measure the overall size and output of an economy.

The MOST Important Use of GDP Is as a Measure