Gross domestic product (GDP) is a measure of the gross progress indicator (GPI) plus benefits not included in market transactions, minus harmful environmental and social costs.

Question

Quizplus · Accepted Answer

Gross Domestic Product (GDP) measures the total value of all goods and services produced over a specific time period within a country's borders. It does not account for benefits not included in market transactions, nor does it subtract harmful environmental and social costs. The description provided confuses GDP with concepts related to the Genuine Progress Indicator (GPI), which attempts to include such factors.

Gross Domestic Product (GDP) Is a Measure of the Gross