Question

What is one way GDP could be measured?

Question 30 options:


Multiply all goods, services, and structures produced inside our national boundaries in a 12-month period by their prices, then add them up



Multiply all goods produced in a 12-month period by their prices, then add them up



Multiply all goods and services produced in a 12-month period by their prices, then add them up



Multiply all services produced in a 12-month period by their prices, then add them up

Answer 1

Multiply all goods, services, and structures produced inside our national boundaries in a 12-month period by their prices, then add them up

Step-by-step explanation:

GDP is the total value of goods and services produced within the boundaries of a country within a specific period. GDP is a measure of a country's productivity. In calculating GDP, economists use finished goods and services to avoid double counting. All goods produced in the country are considered even if foreigners manufactured them.

Costs structures refer to components of fixed and variable costs that impact the success of a start-up. Without cost structures, many businesses will not take off. These costs include the cost of acquiring capital, expenses relating to business registration, and initial office expenses.

In calculating GDP, one has to consider the total value of goods and services produced plus the cost of structures. GDP is an indicator of growth or contraction in the economy.