Gross domestic product (GDP)is best defined as the total market value of all

Question

Quizplus · Accepted Answer

GDP measures the total market value of final goods and services produced within a country within a given time period. "Final goods" refers to goods that are intended for the end consumer, rather than intermediate goods used in the production of other goods. Including intermediate goods in GDP would result in double-counting, as their value would already be included in the final goods they help produce.

Gross Domestic Product (GDP)is Best Defined as the Total Market