Final answer:
economic growth rate
Gross Domestic Product (GDP) measures the value of the output of all goods and services produced within a country in a year.
Step-by-step explanation:
Economists generally express the size of a nation's economy as its gross domestic product (GDP), which measures the value of the output of all goods and services produced within the country in a year.
Economists measure GDP by taking the quantities of all goods and services produced, multiplying them by their prices, and summing the total. Since GDP measures what is bought and sold in the economy, we can measure it either by the sum of what is purchased in the economy or what is produced.
The economic growth rate is a measure of the change in the amount of goods and services produced by a nation's economy.
Economists express the size of an economy as its gross domestic product (GDP), which measures the value of all goods and services produced within a country over a year. A good economic growth rate, usually more than 3%, indicates an increase in the standard of living within a country.