Gross domestic product (GDP)equals the ________ of final ________ produced within a country during a given period of time.
A) market value;goods
B) market value;services
C) market value;goods and services
D) quantity;goods
E) quantity;goods and services

Question

Quizplus · Accepted Answer

GDP is a monetary measurement of the market value of all goods and services produced within a country's borders in a specific time period. Hence, the correct answer is, 'market value;goods and services.' Options A and B are incorrect as they refer to only one type of output, either goods or services, while the actual calculation considers both. Options D and E are also incorrect as GDP is measured in monetary terms, not in physical quantity.

Gross Domestic Product (GDP)equals the ________ of Final ________ Produced

Gross Domestic Product (GDP)equals the of Final Produced