THE ROARING 20S 1920 1929
AMERICAN ECONOMY IN THE 1920S
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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gross domestic product
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productivity
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gross national product
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total economic supply
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Detailed explanation-1: -Gross Domestic Product is the monetary value of all goods and services produced in a country in a specific time period. It is a measure of a country’s economic growth.
Detailed explanation-2: -gross national product (GNP), total market value of the final goods and services produced by a nation’s economy during a specific period of time (usually a year), computed before allowance is made for the depreciation or consumption of capital used in the process of production.
Detailed explanation-3: -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-4: -GDP stands for “Gross Domestic Product” and represents the total monetary value of all final goods and services produced (and sold on the market) within a country during a period of time (typically 1 year). GDP is the most commonly used measure of economic activity.