Fill in the blank for the following: GDP is the value of all ________ produced in a given period.
A)final and intermediate goods and services produced by the private sector only
B)final goods and services
C)final and intermediate goods and services, plus raw materials
D)all of the above
E) none of the above

Question

Quizplus · Accepted Answer

GDP measures the value of final goods and services produced within a country's borders in a given time period. It does not include intermediate goods or raw materials as those are already included in the prices of final goods and services. GDP also includes production from all sectors of the economy, not just the private sector.

Fill in the Blank for the Following: GDP Is the Value