We can measure total production by:
A) adding up what people spend on final goods and services.
B) adding up everyone's asset wealth.
C) comparing the cost of inputs to final sale price.
D) adding up the value of the intermediate goods used to produce final goods and services.

Question

Quizplus · Accepted Answer

Adding up what people spend on final goods and services, also known as Gross Domestic Product (GDP), is the standard method of measuring total production in an economy.

We Can Measure Total Production By