The statistic used by economists to measure the value of economic output is:
A) the unemployment rate.
B) GDP.
C) the CPI.
D) the GDP deflator.
E) the federal funds rate.

Question

Quizplus · Accepted Answer

GDP, or Gross Domestic Product, is used to measure the value of economic output. It is the total value of all goods and services produced within a country's borders over a specific period of time, usually a year. Other options listed are not measures of economic output, but rather indicators of employment, inflation, and interest rates.

The Statistic Used by Economists to Measure the Value of Economic