GDP is the market value of all final goods and services produced within a country's borders over a specific time period (usually a year). It does not include intermediate goods and services or non-market transactions.

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GDP Is Defined As

Question 36

Multiple Choice

GDP is defined as:

A) the market value of all goods and services bought and sold in the economy over some time period.
B) the market value of all final goods and services produced in the economy over some time period.
C) the quantity of all final goods and services produced in the economy over some time period.
D) the quantity of all goods and services bought and sold in the economy over some time period.

Correct Answer: