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Which organization defines GDP as an aggregate measure of production equal to the sum of the gross values added of all resident and institutional units engaged in production and services?
Which organization defines GDP as an aggregate measure of production equal to the sum of the gross values added of all resident and institutional units engaged in production and services?
- The Organisation for Economic Co-operation and Development (OECD) (correct)
- The World Bank
- The International Monetary Fund (IMF)
- The United Nations
What is GDP?
What is GDP?
- A measure of the economic health of a country
- A monetary measure of the market value of all the final goods and services produced in a specific time period by a country or countries (correct)
- A measure of the monetary value of all goods and services produced in a country
- A measure of the monetary value of final goods and services bought by the final user
Who uses GDP to measure economic health?
Who uses GDP to measure economic health?
- The Organisation for Economic Co-operation and Development (OECD)
- The International Monetary Fund (IMF)
- The government of a single country (correct)
- The World Bank
What does GDP measure according to the IMF?
What does GDP measure according to the IMF?
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Why is GDP often revised before being considered a reliable indicator?
Why is GDP often revised before being considered a reliable indicator?
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