GDP (gross domestic product) is defined as the total market value of all final goods and services produced within a country's borders in a specific period of time, usually a year. It is a measure of a country's economic output or productivity.

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GDP Is Defined as

Question 34

Multiple Choice

GDP is defined as

A) the value of a country's exports minus its imports.
B) the difference between two country's exchange rates.
C) the market value of goods and services produced in a country in a year.
D) national income minus national taxes.
E) the gross purchasing power of domestic goods and services plus international income.

Correct Answer: