The U.S. gross domestic product is equal to the total market value of all
A) intermediate goods and services produced by resources in the United States.
B) final goods and services produced by resources in the United States.
C) final goods and services produced by U.S. citizens in the United States.
D) intermediate goods and services produced by citizens in the United States.

Question

Quizplus · Accepted Answer

GDP measures the value of final goods and services produced within a country's borders, regardless of who owns the resources used. Intermediate goods (used in the production of final goods) are excluded to avoid double-counting. Therefore, choice B is the correct answer.

The US Gross Domestic Product Is Equal to the Total Market