The statistic most often used by economists to measure the value of economic activity is ________.
A)GDP
B)the CPI
C)labor-force participation rate
D)the nominal interest rate
E)the real interest rate

Question

Quizplus · Accepted Answer

GDP, or Gross Domestic Product, is the total value of goods and services produced by a country in a given period of time. It is the most commonly used statistic to measure the economic activity of a country, as it reflects the level of production and income generated within the economy. The other options listed, such as the CPI and interest rates, provide important information for understanding economic conditions, but they do not capture the overall level of economic activity in the same way as GDP.

The Statistic Most Often Used by Economists to Measure the Value