This is conventionally measured by the increase of the gross domestic product(GDP) which is the estimated total value of all the goods and services produced by the economy.

BUSINESS LAW

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	Economic Progress
B	Economic Movement
C	Economic Growth

Explanation:

Detailed explanation-1: -GDP measures the monetary value of final goods and services-that is, those that are bought by the final user-produced in a country in a given period of time (say a quarter or a year). It counts all of the output generated within the borders of a country.

Detailed explanation-2: -It is equal to the total income of the nation’s households and also the total expenditures within the nation.

Detailed explanation-3: -The GDP of an economy can be measured by the total dollar value of what is purchased in the economy or by the total dollar value of what is produced. Understanding how to measure GDP is important for analyzing connections in the macro economy and for thinking about macroeconomic policy tools.

Detailed explanation-4: -GDP per capita is gross domestic product divided by midyear population. GDP at purchaser’s prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products.

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BUSINESS ADMINISTRATION

BUSINESS LAW