GDP is the market value of all final goods and services produced by a country's permanent residents,wherever located,in a year.

Question

Quizplus · Accepted Answer

GDP measures the market value of all final goods and services produced within a country's borders in a given time period, not by its residents wherever they are located. The measure you're describing is more akin to Gross National Product (GNP).

GDP Is the Market Value of All Final Goods and Services