Question 3 6 points d The most accurate definition of GDP is

Question 3 (6 points) d The most accurate definition of GDP is which of the following reductions in GDP lasting at one-half of a year a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real incomes, employment, industrial production, and wholesale-retail sales a significant increase in unemployment that last more than 3 months

Solution

\"A significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real incomes, employment, industrial production, and wholesale-retail sale\"

GDP is a measure of the economic activity in real value over a period of time. The answer is \"B\".