The measure of the total flow of goods and services produced by the economy over a specified time period, normally a year or a quarter is referred to as

Related MCQs

• The value of the output of all goods and services produced within a nation's borders, normally given as a total for the year. It thus includes the production of foreign owned firms within the country, but excludes the income from domestically owned firms located abroad, is called:
• The goods and services produced by one country that are sold in exchange for the second country’s own goods and services or for foreign exchange are called
• The total value of goods and services produced in a country during a given period is -
• The excess of the value of imports of goods and services over the value of exports of goods and services is called:
• A trade of goods and services in the exchange for other goods or services rather than for money is known as:
• The proportion of a sum of money that is paid over a specified time period in payment for its loan is called:
• An agreement between the owner of a property to grant use of it to another party for a specified period at specified rent payable annually is called:
• Consumer goods that yield services or utility over time rather than being used up instantly are termed as
• Goods which are produced for consumption rather than as an intermediate product used in the process of production are referred to as:
• An index (index number) of the prices of goods and services purchased by consumers to measure the inflation rate or the cost of living is called