Asked by Tladi Kelefile karabelo on Jun 26, 2024
Verified
Which of these is a commonly used measure of nation's total productivity?
A) Gross domestic product
B) Product mix ratio
C) Contribution margin
D) Break-even point
Gross Domestic Product
The total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period.
Nation's Total Productivity
A measure of the efficiency of production within a country, accounting for the output of goods and services relative to input resources.
Commonly Used Measure
A standard metric or unit of measurement frequently utilized in a particular context or field.
- Examine the impact of efficiency and technological advancements on economic expansion.
- Distinguish among the primary elements of a country's economic stability, including Gross Domestic Product (GDP), national debt, and budget surplus or deficit.
Verified Answer
AP
Alyize PiedraJun 27, 2024
Final Answer :
A
Explanation :
Gross domestic product (GDP) is a measure that represents the total value of all goods and services produced over a specific time period within a nation's borders. It is widely used as an indicator of the economic health of a country and its total productivity.
Learning Objectives
- Examine the impact of efficiency and technological advancements on economic expansion.
- Distinguish among the primary elements of a country's economic stability, including Gross Domestic Product (GDP), national debt, and budget surplus or deficit.