GDP stands for Gross Domestic Product, which measures the dollar value of all the final goods and services produced within a country's borders in a given year. It only includes final goods and services, not intermediate goods that are used in production. GDP is often used as an indicator of a country's economic performance and growth.

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GDP

Question 40

Multiple Choice

GDP:

A) is the dollar value of all the final goods and services produced within the borders of a nation.
B) includes intermediate and final goods and services.
C) minus an allowance for depreciation of fixed capital equals GNP.
D) is a less-than-perfect measure of social well-being because it does not include exports and imports.
E) all of the above.

Correct Answer: