GDP is the

Question

GDP is the

Quizplus · Accepted Answer

GDP (Gross Domestic Product) is defined as the monetary value of all final goods and services produced within the borders of a nation in a particular year. Option A is incorrect because it subtracts non-income charges from national income, while GDP does not include national income. Option C is incorrect as the monetary value of all economic resources used in producing output is called Gross National Product (GNP), not GDP. Option D is incorrect because GDP only considers the monetary value of final goods and services, not intermediate goods.

GDP Is the