The next wave of marketable innovations may involve new ways to produce and conserve energy. If we can turn new technology into marketable products and services that produce energy to run our businesses and homes, the U.S. could see a surge in output of goods and services. The Department of Economic Development would document this surge by measuring the ______.
A) gross domestic product
B) consumer price index
C) consumer marginal index
D) number of workers who are frictionally employed

Question

Quizplus · Accepted Answer

The gross domestic product (GDP) is the standard measure of a country's output of goods and services. It would be the appropriate metric to measure the surge in output that may occur if new energy-producing technologies become marketable products and services. The consumer price index (B) measures the changes in prices for goods and services purchased by households, which is not necessarily reflective of overall output. The consumer marginal index (C) is not a recognized economic metric. The number of frictionally employed workers (D) relates to a specific type of unemployment and would not capture the overall surge in output.

The Next Wave of Marketable Innovations May Involve New Ways