Macro #1: GDP

Front

The study of large-scale economic factors dealing with the economy of a nation, region, or of the world as a whole is called:

Back

Macroeconomics

Front

No single economic measure is sufficient to diagnose the health of an economy:

Back

True

Front

GDP is a macroeconomic tool which measures:

Back

The dollar value of all final goods and services produced within a country’s borders in a given year

Front

GDP stands for:

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gross domestic product

Front

The GDP of the United States is the __________ in the entire world at >$21 trillion.

Back

highest

Front

Which one of these is NOT a limitation of GDP as an economic health measure?
Nonmarket activity, Underground economy, Quality of life

Back

Government spending