To calculate GDP it is necessary to add up the market value of all the ________ produced within a country during a year.
A)goods but not services produced
B)goods and services produced
C)intermediate goods and services produced
D)final goods and services produced
E)intermediate goods and services produced and all the final goods and services produced

Question

Quizplus · Accepted Answer

GDP measures the market value of all final goods and services produced within a country in a given period of time (usually a year). Final goods are those that are produced for their final use and not for resale or further processing. Therefore, intermediate goods, which are goods used in the production of other goods, are excluded from GDP calculations to avoid double-counting. Services are also included in GDP calculations because they represent a significant part of the economy.

To Calculate GDP It Is Necessary to Add Up the Market