The best definition of GDP is

Question

Quizplus · Accepted Answer

GDP (Gross Domestic Product) is a monetary measure of the total value of all final goods and services produced within a country's borders during a specific time period, usually a year. It is calculated by adding up the value of all final goods and services produced in the economy and is expressed in terms of the country's currency. Option A is incorrect because GDP is a monetary measure, not a physical one. Option C is incorrect because GDP measures the size of the economy, not the growth rate per capita. Option D is incorrect because GDP does not measure the physical capital stock of the economy.

The Best Definition of GDP Is