___________ is one of the most widely used measures of economic growth.
A) GNP
B) Purchasing Power Parity
C) GDP
D) GNI
E) Per capita income

Question

Quizplus · Accepted Answer

GDP (Gross Domestic Product) is the most widely used measure of economic growth. It measures the total value of goods and services produced in a country within a given period of time (usually a year). It is used by governments, economists, and international organizations to track the overall health of an economy and to compare the economic performance of different countries. GNP (Gross National Product) and GNI (Gross National Income) are similar measures, but they include income earned by a country's residents and businesses abroad, while GDP only includes income generated within the country's borders. Purchasing Power Parity (PPP) is a measure of the relative purchasing power of currencies, and per capita income measures the average income per person in a given country. While these measures are also important in assessing economic well-being, GDP is the most commonly used measure of economic growth.

___________ Is One of the Most Widely Used Measures of Economic