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What are the components of Aggregate Supply?
aggregate supply is the total number of good and services produced in a country. The components are GOODS and SERVICES
The total value of all goods and services produced in a country in called what?
it is called gross domestic products
What is the answer to The gross domestic product is the?
total value of all goods and services produced in a country in a given year
Which term describes the total value of goods and services produced in a country in a given year?
gross domestic product
What is the total value of all goods and services produced in a year called?
Gross product. If counting one produced inside a country then Gross Domestic Product GDP.
What are the components of Aggregate Supply?
aggregate supply is the total number of good and services produced in a country. The components are GOODS and SERVICES
The total value of all goods and services produced in a country in called what?
it is called gross domestic products
What is the answer to The gross domestic product is the?
total value of all goods and services produced in a country in a given year
Which term describes the total value of goods and services produced in a country in a given year?
gross domestic product
What is represented by a country's GPD?
A country's GDP represents the total value of all final goods and services produced within that country during the course of a year.
What is the total value of goods and services produced in a country during a given priod?
The total value of goods and services produced in a country during a given period is known as the Gross Domestic Product (GDP). It is a key indicator of a country's economic performance and is often used to gauge the size and health of an economy.
What is the total value of all goods and services produced in a year called?
Gross product. If counting one produced inside a country then Gross Domestic Product GDP.
Which statement most accurately describes the Gross Domestic Product?
The total value of all goods and services produced in a nation in one year
What is the total dollar value of all final goods and services produced each year in a country?
gross national product
What gross product includes the goods and services produced by purchases from foreign firms?
Gross Domestic Product (GDP) includes the total value of all goods and services produced within a country's borders, regardless of whether they are produced by domestic or foreign firms. However, when considering the contributions of foreign firms specifically, Gross National Product (GNP) accounts for the value of goods and services produced by a nation's residents, regardless of where they are located. Thus, goods and services produced by purchases from foreign firms are reflected in GDP but not directly in GNP.
What is the total value of all goods and services produced in and out of a country in a year called?
Gross Domestic Product (GDP)
How national income is calculate?
It is the total value of all the goods and services produced within a country plus income coming from abroad in a particular time period
