Gross domestic product (GDP)is the market value of:
A) all final goods and services produced within a country in a year.
B) both intermediate and final goods and services produced within a country in a year.
C) all final goods,but not services produced within a country in a year.
D) both intermediate and final goods,but not services produced within a country in a year.

Question

Quizplus · Accepted Answer

GDP is the total market value of all final goods and services produced within a country in a given period, typically a year. It excludes intermediate goods because their value is already reflected in the final goods. It includes both goods and services because they contribute to the economy's output and income.

Gross Domestic Product (GDP)is the Market Value Of