Gross Domestic Product is a monetary measure of
A)total consumption in the economy.
B)the total value of all final goods and services.
C)total industrial output.
D)the total value of all foreign sales and purchases.

Question

Quizplus · Accepted Answer

Gross Domestic Product (GDP) is a monetary measure that represents the total value of all final goods and services produced within the borders of a country during a specific period of time, usually a year. It includes all private and public consumption, government outlays, investments, and exports, but excludes imports, intermediate goods, and transfer payments.

Gross Domestic Product Is a Monetary Measure of