1. Another way of measuring GDP is to measure categories of national
a. output b. income
c. resources d. exports
i THINK 1.a or b
Correct! Another way of measuring GDP (Gross Domestic Product) is to measure categories of national output (a) or income (b).
To find the answer to this question, you can use your knowledge of what GDP represents. GDP is a measure of the total value of goods and services produced in a country over a specific period. It can be calculated either by measuring the different categories of national output or by measuring the different categories of national income.
In the case of measuring national output, GDP is calculated by summing up the value of all final goods and services produced in a country. This includes both tangible goods like cars and buildings, as well as intangible services like education and healthcare.
On the other hand, measuring national income involves adding up the incomes earned by individuals and businesses within a country. This includes wages, salaries, profits, rent, and interest.
So, based on your understanding of what GDP represents, you correctly identified that measuring categories of national output (a) or income (b) are both valid ways to measure GDP.