Which of the following is used to measure and compare the economic outputs in Canada and other nations?

Question

Quizplus · Accepted Answer

Gross domestic product (GDP) is a commonly used measure to compare economic outputs between nations. It measures the total value of goods and services produced within a country's borders during a specific time period. It is a widely recognized economic statistic and is used frequently by governments, businesses, and economists to compare the economic performance of different countries. The Human Development Index (HDI), Canadian Index of Well-being (CIW), and genuine progress indicator (GPI) are other indicators used to measure well-being and progress, but they do not specifically measure economic outputs in the same way that GDP does.

Which of the Following Is Used to Measure and Compare