Gross domestic product is the total market value of all
A) final goods and services produced in the United States by labor and property.
B) final and intermediate goods and services produced in the United States by labor and property.
C) intermediate goods produced in the United States by labor and property.
D) final goods and services sold in the United States.

Question

Quizplus · Accepted Answer

GDP measures the market value of all final goods and services produced within a country's borders by labor and property. Intermediate goods are not included because their value has already been counted in the final goods and services that they contribute to. Only goods and services produced within the United States are included, regardless of where they are ultimately sold.

Gross Domestic Product Is the Total Market Value of All