Question

The U.S. produces and sells millions of different products. To aggregate them together into a single measure of domestic output, the quantity of each good produced is weighted by its:______

a. cost of production
b. utility to consumers
c. market price
d. contribution to corporate profits

Answer 1

Answer:

C

Explanation:

The single measure for domestic output is known as GDP.

Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year

GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export

Net export = exports – imports

US GDP is measured in dollars.

the US GDP in 2019 was  21427.70 billion US dollars.

We can see that it was measured in dollars