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QuizMultiple Choice

Measuring the Economy

Question 1 • FL-2106020-M/J Civics Advanced B

What is the definition of GDP, or gross domestic product?

Answer
A
the quantity and quality of goods and services available in a country
B
the rate that compares what is being produced to what is used to make it
C
the total value of all finished goods and services produced in a country in a specific time period
D
the rate of people in the labor force who do not have jobs as a percentage of those who do

Explanation

GDP measures the total market value of finished goods and services produced within a country during a specific period, such as a year. That matches “the total value of all finished goods and services produced in a country in a specific time period.” The other choices describe availability, productivity, and unemployment, respectively.

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