Gross domestic product is a monetary measure of
A)total consumption in the economy.
B)the total value of all final goods and services.
C)total industrial output.
D)the total value of all foreign sales and purchases.

Question

Quizplus · Accepted Answer

Gross domestic product (GDP) is the total value of all final goods and services produced within a country's borders in a specific period of time, usually a year. It includes all goods and services, both public and private, and serves as a measure of a country's economic output. Options A, C, and D do not fully capture the definition of GDP.

Gross Domestic Product Is a Monetary Measure of