Gross Domestic Product consists of spending on

Question

Quizplus · Accepted Answer

Gross Domestic Product (GDP) is defined as the total value of goods and services produced within a country's borders during a specific time period. It is calculated by adding up spending on four components: Consumption (spending by households on goods and services), Investment (spending on capital goods such as machinery and equipment by businesses), Government spending (spending by governments on goods and services), and Net Exports (exports minus imports). Therefore, option A is the correct choice as it contains all the components of GDP.

Gross Domestic Product Consists of Spending on