How is total production in the economy measured?

Question

Quizplus · Accepted Answer

Total production in the economy is measured as the market value of all final goods and services produced in the economy, which is known as Gross Domestic Product (GDP). It is the most common measure used to determine the size and growth of an economy. B, C, and D are incorrect because while they may be components of GDP, they do not represent the total value of all goods and services produced in the economy.

How Is Total Production in the Economy Measured