GDP is all of the following except the total:
A) expenditure of everyone in the economy.
B) income of everyone in the economy.
C) expenditure on the economy's output of goods and services.
D) output of the economy.

Question

Quizplus · Accepted Answer

GDP is a measure of the market value of all final goods and services produced in a country. It includes the total income earned by everyone in the economy (B) and the total expenditure on the economy's output of goods and services (C). It is also a measure of the total output of the economy (D). However, it does not specifically measure the total expenditure of everyone in the economy, as this could include transactions that do not pertain to the production of new goods and services, such as financial transactions or second-hand sales.

GDP Is All of the Following Except the Total