The GDP of the U.S. in 2014 was around $17.4 trillion. This means
A) that the value of output in the U.S. in 2014 was around $17.4 trillion.
B) that total income in the U.S. in 2014 was around $17.4 trillion.
C) that total spending on final goods and services in the U.S. in 2014 was around $17.4 trillion.
D) all of the above

Question

Quizplus · Accepted Answer

GDP represents the value of output, income, and spending on final goods and services in an economy, therefore, all of the above choices are correct.