Which of the following is used in economic analysis?
A. Gross Domestic Product
B. Surveys
C. Labour cost
D. Diffusion Indexes
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Answer:
a) G.D.P...............
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The Gross Domestic Product (GDP) of the country is used for economic analysis.
Explanation:
- Economic analysis is a process that we use to evaluate the strength and weaknesses of an economy.
- The economic analysis aims to define how effectively the economy within it is operating.
- It is a systematic approach to find out how scarce resources can be used in an optimum way.
- Economic analysis measure in monetary terms the benefits of a project are to the economy of the country.
- Gross Domestic Product (GDP) is used for economic analysis.
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