One way that economists measure the performance of an economy is by looking at a widely used measure of total output know as the _____.
A) leading economic indicator
B) consumer confidence index
C) business cycle
D) gross domestic product

Question

Quizplus · Accepted Answer

Gross domestic product (GDP) is the widely used measure of the total output of an economy. It represents the market value of all final goods and services produced within a country's borders during a specific period of time, typically a year. By measuring GDP, economists can analyze the overall health and growth of an economy, as well as its economic performance relative to other countries.

One Way That Economists Measure the Performance of an Economy