The single most important measure of the economy's overall economic performance, or the measure of national output, is called

A) National Income (NI). B) Net National Product (NNP). C) Gross National Product (GNP). D) Gross Domestic Product (GDP).

Question

History

Edwin

11 July, 19:00

The single most important measure of the economy's overall economic performance, or the measure of national output, is called

A) National Income (NI). B) Net National Product (NNP). C) Gross National Product (GNP). D) Gross Domestic Product (GDP).

+1

Answers (2)

Know the Answer?

Dominic Duran · Answer 1

The answer is D) Gross Domestic Product (GDP).

Shyla Payne · Answer 2

The correct answer is D.

Gross Domestic Product (GDP) is the main macroeconomic indicator that measures the total output generated in a country during a specific period of time, usually a year. It aggregates the total monetary value of the goods and services that have been produced within the country.

GDP is measured over time. When the GDP figure registered in a certain period is compared to former years, it can be determined whether there has been positive or negative economic growth in the country.

The single most important measure of the economy's overall economic performance, or the measure of national output, is calledA) National Income (NI). B) Net National Product (NNP). C) Gross National Product (GNP). D) Gross Domestic Product (GDP).

The single most important measure of the economy's overall economic performance, or the measure of national output, is called

A) National Income (NI). B) Net National Product (NNP). C) Gross National Product (GNP). D) Gross Domestic Product (GDP).