Gross domestic product is equal to the market value of all goods and services
A) exchanged during a period.
B) produced domestically during a period.
C) produced by the citizens of a nation during a period.
D) produced domestically during a period minus the depreciation of productive assets.

Question

Quizplus · Accepted Answer

GDP is a measure of the total value of all goods and services produced within a country's borders during a specific time period (usually a year). It includes all final goods and services, whether they are sold on the market or not. Therefore, option B is the correct choice. Option A is incorrect because GDP includes goods and services that are not exchanged in the market, such as government services. Option C is incorrect because GDP measures production within a country's borders, regardless of citizenship. Option D is incorrect because GDP includes depreciation, not subtracts it.

Gross Domestic Product Is Equal to the Market Value of All