Asked by Joshua Palesano on May 16, 2024
Verified
Industrial production refers to
A) the amount of personal disposable income in the economy.
B) the difference between government spending and government revenues.
C) the total manufacturing output in the economy.
D) the total production of goods and services in the economy.
Industrial Production
A measure of the output of the industrial sector of the economy, which includes manufacturing, mining, and utilities.
Personal Disposable Income
The amount of money that households have available for spending and saving after income taxes have been accounted for.
- Understand the concepts of GDP and industrial production and their roles in the economy.
Verified Answer
UE
Udeme EbongMay 23, 2024
Final Answer :
C
Explanation :
Industrial production specifically refers to the output of the manufacturing sector, which includes factories and production facilities, rather than the entire economy's output of goods and services.
Learning Objectives
- Understand the concepts of GDP and industrial production and their roles in the economy.