DISCUSS THE ISSUES INVOLVED IN MEASURING A COUNTRY'S ECONOMY.EXPLA...

100. - TEST BANK FOR BUSINESS A CHANGING WORLD 5TH CANADIAN EDITION BY FERRELL
TEST BANK FOR BUSINESS A CHANGING WORLD 5TH CANADIAN EDITION BY FERRELL
100.Discuss the issues involved in measuring a country's economy.

Explanation:

Answers will varyFeedback: Countries measure the state of their economies to determine whether they are expanding or contracting and whether corrective action is necessary to minimize fluctuations. One commonly used measure is gross domestic product (GDP), the sum of all goods and services produced in a country during a year. Another important indicator of a nation's economic health is the relationship between its spending and income (from taxes). Bloom's: ComprehensionDifficulty: MediumLearning Objective: 01-05 Specify why and how the health of the Essay Question economy is measured.