The U.S. economic system relies on
A) the private sector to measure its economic well-being.
B) industries that produce capital equipment to determine how well things are going.
C) frictional unemployment statistics as the sole measure of economic health.
D) key economic indicators such as GDP, to measure economic progress.

Question

Quizplus · Accepted Answer

The U.S. economic system relies on key economic indicators, such as GDP, to measure economic progress. While the private sector and capital equipment industries may play a role in determining economic well-being, GDP is the most widely used and accepted measure of a country's economic output and health. Frictional unemployment statistics alone are not sufficient to measure economic health, as they do not account for other factors such as wages, inflation, and consumer spending.

The U.S. Economic System Relies on