Gross domestic product is equal to the sum of all of the following EXCEPT:
A)personal consumption expenditures
B)gross exports
C)government expenditures
D)all of the above are included

Question

Quizplus · Accepted Answer

Gross domestic product (GDP) is the sum of all final goods and services produced within a country's borders during a specific period of time. Therefore, personal consumption expenditures, government expenditures, and gross exports are all included in GDP. The correct answer is B because gross imports are deducted from GDP as they represent goods and services produced in other countries.

Gross Domestic Product Is Equal to the Sum of All