Answer :
1. The United States measures its economy by the amount of goods and services produced in a given year.
The size of a country's overall economy is typically measured by its GDP, which is the value of all final goods and services produced within a country in a given year.
Measuring GDP entails calculating the total dollar value of the production of millions of different goods and services smartphones, cars, music downloads, computers, steel, bananas, college educations, and all other new goods and services produced in the current year.
2. Capital is commonly used in economics to refer to money. Money, on the other hand, is not a factor of production because it is not directly involved in the production of a good or service. As a result, the answer is False.
Capital, on the other hand, facilitates production processes by allowing entrepreneurs and business owners to purchase capital goods or land or to pay wages.
3. A "need" in economic terms is something that is required to sustain life.
Simply put, a need is something that is required in order to survive. In economics, the concept of survival is real, which means that someone would die if their needs were not met. This includes necessities such as food, water, and shelter.
4. Road construction and military equipment purchases are examples of government purchases.
The government is in charge of purchasing military equipment and constructing roads. These purchases are classified as gross investment expenditures. The government treats this as its own asset when it invests. The government also purchases infrastructure projects such as roads and civil servant payrolls.
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