In the definition of GDP,the words "total market value" refer to total
A) dollar value at base prices.
B) dollar value at current prices.
C) subjective value.
D) objective value.
E) a and d

Question

Quizplus · Accepted Answer

"Total market value" in the definition of GDP refers to the dollar value of all goods and services produced within a country's borders in a given period of time, calculated at current market prices. This means it includes both the actual prices that goods and services are being sold for, as well as any inflation or deflation that may be occurring during that period. Therefore, the best choice is B) dollar value at current prices.

In the Definition of GDP,the Words "Total Market Value" Refer