The value of an economy's total output of goods and services is called _____.
A) consumption
B) investment
C) gross domestic product
D) exports

Question

Quizplus · Accepted Answer

Gross domestic product (GDP) is the value of all final goods and services produced within a country's borders over a certain period, usually a year. Consumption, investment, and exports are all components of GDP, but they are not the same as GDP itself.

The Value of an Economy's Total Output of Goods and Services