The measurement of gross domestic product by multiplying the quantities of goods by their prices is crucial because it allows one to __.Multiple choice question.calculate the total number of units of goods produced in an economydirectly compare the output of one country to that of anotherexpress the values of products in a common unit of measurementcorrect for inflation

A nation's gross domestic product (GDP) ______.Multiple choice question.reflects the aggregate output of final and intermediate goods produced within an economy in a given yearreflects the total market value of all goods and services, final and intermediate, produced by a country's resources in a yearreflects the aggregate output of intermediate goods produced within an economy in a given yearreflects the total market value of all final goods and services produced within an economy in a given year

The _____ of any country is measured by the output of goods and services people can buy with the money they have.Group of answer choicesstandard of livingconsumer productivityinput per personquality of lifetotal consumption rate

Gross domestic product may be calculated as the sum ofMultiple choice question.consumer spending, investment spending, government purchases of goods and services and net exports.consumer spending, investment spending, government transfer payments and net exports.exports and imports.consumer spending, investment spending, government purchases of goods and services and exports.

Q 12. Using the following information, calculate and analyse the value of Gross Domestic Product (GDP)deflator: [2]Year 2014-15 2016-17Nominal GDP 6.5 9Real GDP 6.5 7.

Gross domestic product can be described as Blank______.Multiple choice question.an increase in output or an expansion of production possibilitiesthe total market value of all final goods and services imported by a nation in a given time periodthe total market value of all intermediate goods and services produced within a nation's borders in a given time periodthe total market value of all final goods and services produced within a nation's borders in a given time period