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Why is GDP an imperfect measure of the total production in the economic?
Wiki User
∙ 12y ago
because it include all production values, so it is imperfect measure of the total production in the economic.
Wiki User
∙ 12y ago
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Economic growth in South Africa?
economic growth is the annual rate of increase in total production or income in the economy
The is measure of a country's total economic output?
gross domestic product
Gross domestic product is a measure of the?
It's the total economic output of a country. In layman's terms: how much money (as a measure for value of production, adjusted or not for inflation, the first being called "Real GDP" and the second "Nominal GDP") did the country produce in a year, plus exports, minus imports.
What is the appropriate measure of government s involvement in economic activity?
it is the share of government spending in total spending in the economy
Which economic system has become associated with authoritarian governments and total control of the economy?
The command economy is the economic system that is associated with authoritarian governments and total control of the economy. The government imposes strict control of the production activities, pricing and exports.
Economic growth in South Africa?
economic growth is the annual rate of increase in total production or income in the economy
The is measure of a country's total economic output?
gross domestic product
Gross domestic product is a measure of the?
It's the total economic output of a country. In layman's terms: how much money (as a measure for value of production, adjusted or not for inflation, the first being called "Real GDP" and the second "Nominal GDP") did the country produce in a year, plus exports, minus imports.
What is the appropriate measure of government s involvement in economic activity?
it is the share of government spending in total spending in the economy
Which economic system has become associated with authoritarian governments and total control of the economy?
The command economy is the economic system that is associated with authoritarian governments and total control of the economy. The government imposes strict control of the production activities, pricing and exports.
What type of measurement economic indicator is gross domestic product?
Gross domestic product (GDP) is a measure of total wealth in a given region.
What was the Production Budget for Total Recall?
The Production Budget for Total Recall was $125,000,000.
How much money is produced by corn?
It's difficult to figure the total worldwide economic benefit from corn production, but just to give you an idea of the scale, the 2011 US corn (for grain) production was valued at $76.46 billion dollars.
How would you define the term 'economic growth'?
Economic growth is an increase in production levels of goods and services within a country. To measure and distinguish weather or not a country is growing, we need to observe the total amount of goods and services being produced in the country at the time, the real gross domestic product (GDP), and compare it to changes from one year to the next as a percentage. Common factors associated with economic growth are increases in capital stock, advances in technology, and improvement in the quality and level of literacy are considered to be the principal causes of economic growth.
How do you calculate total product?
multiply the total production and the the price of the total production mathematically Pq=QP
The dollar value of all final goods and services and the most comprehensive measure of a country's total production value is?
(GDP) Gross Domestic Product.
What economic data does a production possibilities curve bring together?
Total value of 4 factors of production including:LandLaborCapitalEnterprizeThe PPC curve adds all these factor ups and create a curve show the possible optimum level of production for 2 competing goods.
