GDP stands for Gross Domestic Product, which is the total market value of all final goods and services produced within a country in a given period of time, usually a year. It represents the economic output of a country and is an important indicator of its economic health and growth. This definition aligns with option C, making it the best choice.

Solved

GDP Is Defined as

Question 39

Multiple Choice

GDP is defined as

A) the value of a country's exports minus its imports.
B) great domestic product.
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: