The best definition of GDP is

Question

Quizplus · Accepted Answer

GDP stands for Gross Domestic Product, which is a monetary measure of the total value of all final goods and services produced within a country during a specific time period, typically a year. It is calculated by adding together the market value of all final goods and services. Therefore, option B is the best definition. Option A is incorrect because GDP is a monetary measure, not physical. Option C is incorrect because GDP measures the total value of goods and services, not per capita growth. Option D is incorrect because it refers to a physical measure of the capital stock, not GDP.

The Best Definition of GDP Is