Question

To measure GDP, all we have to do is ________ all the final goods and services produced in a year by their prices, and then add them up to get the total ________ ________ of product. Since it is not possible to record every single good, service, and structure produced, statisticians use ________ ________ to estimate

Answer 1

Answer:

To measure GDP, all we have to do is multiply all the final goods and services produced in a year by their prices, and then add them up to get the total national output of product. Since it is not possible to record every single good, service, and structure produced, statisticians use scientific sampling to estimate

Explanation:

To calculate the Gross Domestic Product, you must add up all the dollar amount for all the prices multiplied by the quantity of the goods and services produced within a country boarder.