The output of goods and services in an economy is referred to as the gross domestic product.

Name: The output of goods and services in an economy is referred to as the gross domestic product.
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The statement is true. Gross domestic product (GDP) is defined as the total value of goods and services produced in a country over a specific period of time, typically a year. It is a measure of the size and health of an economy.

The Output of Goods and Services in an Economy Is