Question

3. Which is the most common method
of measuring economic development?
O Sales
O Import-export
O Profit loss
O Income​

Answer 1

Answer:

The most common method is the GDP. GDP refers to the monetary value of all goods and services produced within the boundaries of a country over a period of time.

Answer 2

Answer:

The most popular way to gauge a nation's economic development is by its income.

Explanation:

• The most crucial indicator of development is per capita income, which is calculated as the total national income divided by the population.
• It is a crucial metric for assessing a nation's economic development.
• The three metrics that make up the human development index (HDI) are life expectancy, education (adult literacy and total secondary and tertiary enrollment), and real GDP per capita.
• Other metrics for gauging economic progress include per capita income, national income overall, import/export volume, gdp (gross domestic product), and fiscal deficit.

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