Gross domestic product is

Question

Quizplus · Accepted Answer

Gross domestic product (GDP) is the market value of all final goods and services produced within a country's borders during a specific time period. This includes all completed goods and services sold to final consumers, as well as investment in new capital goods, and government spending on final goods and services. Intermediate goods and services, which are inputs used in the production process, are not counted in GDP to avoid double-counting. Therefore, option C is the correct definition of GDP.

Gross Domestic Product Is