Gross domestic product adds together many different kinds of goods and services into a single measure of the value of economic activity.To do this,GDP makes use of
A)market prices.
B)statistical estimates of the value of goods and services to consumers.
C)prices based on the assumption that producers make no profits.
D)the maximum amount consumers would be willing to pay.

Question

Quizplus · Accepted Answer

GDP uses market prices to measure the value of goods and services produced in an economy. This means that the prices reflect the actual amounts that consumers are willing to pay for the goods and services, rather than estimated values or assumptions about producer profits.

Gross Domestic Product Adds Together Many Different Kinds of Goods