The GDP is the:
A)monetary value of all final goods and services produced within a nation in a particular year.
B)national income minus all non-income charges against output.
C)monetary value of all economic resources used in producing a year's output.
D)monetary value of all goods and services, final and intermediate, produced in a specific year.

Question

Quizplus · Accepted Answer

The GDP (Gross Domestic Product) is defined as the monetary value of all final goods and services produced within a nation's borders in a particular year. This excludes intermediate goods used in production and only includes final goods consumed by households, businesses, and government.

The GDP Is The