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Why do you use the GDP as your principal measure of aggregate economic activity?
Wiki User
∙ 13y ago
I'm not sure if the question is accurate in the first place, GDP is only one measure of aggregate economic activity, it is chiefly a measure of aggregate output. It can be measured three ways which all end up with the same number. It can be measured by the expenditure approach, income approach or value added approach. The REAL output level of a country is important in terms of recognizing whether a country is experiencing growth over an extended period of time, if the economy is producing it, it must be spent, if money is spent it must be earned, so while GDP is not a measure of economic activity exactly it is important to understanding economic activity in general.
Wiki User
∙ 13y ago
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What is the primary measure used to monitor aggregate economic activity?
The primary measure it looks at is the real GDP, which it considers to be the single best measure of aggregate economic activity.
What is a cardiograph?
A cardiograph is an instrument designed to measure and record the electrical activity of the heart.
How can you measure your level of intensity during a physical activity?
Take your heart rate or pulse.
Does an electrocardiogram record the electrical activity of the heart?
Yeah, that's its prime objective. The leads placed on the limbs can measure the heart's electrical activity, as the voltages generated in the heart are readily transmitted through the body to the limbs.
What is seismography?
Used to measure earthquake activity with sound waves.
What is the primary measure used to monitor aggregate economic activity?
The primary measure it looks at is the real GDP, which it considers to be the single best measure of aggregate economic activity.
What are five ways to measure economic activity?
gdp, gsp, and social trends are three of the five
Which economic indicators measure inactivity rather than activity?
The unemployment rate is one indicator that measures inactivity rather than activity.
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
How do economics measure the impact of technological progress on economic growth?
Economic growth is the increase of per capital GDP or other measures of aggregate income, typically reported as annual rate of change in real GDP. A variety of measures of national income/output are used in economics to estimate total economic activity in a country or region, including gross domestic product (GDP), gross national product (GNP), & net national income (NNI).
What is Labor Productivity and how is it important to economic growth?
Labour productivity is defined by the OECD to be "the ratio of a volume measure of output to a volume measure of input" OECD Manual: "Measuring Productivity; Measurement of Aggregate and Industry-Level Productivity Growth. Labour productivity is important to economic growth because without it no one would be working.
Is a measure of how often you perform an activity?
The measure of how often you perform an activity is the frequency.
The gross domestic product is the .?
The US' GDP is $15,094,025,000,000 for both Nominal and Purchasing Power. This the largest of any country.
What four categories of economic activity are used to measure GDP?
1.Consumer Sector 2.Investment Sector 3.Government Sector 4.Net Export
Which economic indicator does not measure economic growth?
Unemployment rate
What is used to measure moonquakes?
A seismometer would measure earthquakes, but there is no such activity on the moon to measure.
How do you define mass used in the context of physics?
In physics, mass is the aggregate of matter in a body that is a measure of its inertia.
