Questions and Answers
Which one of the following best defines GDP?
A measure of the market value of all goods and services produced in a specific time period
Which organization defines GDP as the sum of the gross values added of all resident and institutional units engaged in production and services?
Organisation for Economic Co-operation and Development (OECD)
What is the main purpose of using GDP?
To measure the economic health of a single country
Why is GDP often revised before being considered a reliable indicator?
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What does GDP measure?
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Which of the following is NOT a characteristic of GDP?
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What does GDP measure in a country?
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Which organization is responsible for maintaining GDP definitions?
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What is the formula for calculating GDP according to the OECD?
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What is the main purpose of using GDP?
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