Question

1. __ gross domestic product (gdp) is also known as economic __,

a. input
b. growth
c. output
d. policy

1. ____ which type of spending is not a component of gross domestic product (gdp)?

a. consumer
b. business
c. government
d. stock market

1. __ a general rise in prices throughout an economy is called __.

a. inflation
b. deflation
c. per capita gdp
d. fiscal policy
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Explanation:

Question 1

GDP measures the total value of all final goods and services produced (output) within a country's borders in a specific time period. Input refers to resources used, growth is a change in GDP over time, and policy is a government action. So GDP is economic output.

GDP components are consumption (consumer), investment (business), government spending, and net exports. Stock market spending is related to financial assets trading, not production of goods/services, so it's not a GDP component.

Inflation is defined as a general increase in prices across an economy. Deflation is a general price decrease, per capita GDP is GDP per person, and fiscal policy is government spending/taxing. So the rise in prices is inflation.

Answer:

C. output

Question 2