A country's nominal GNP for a given year is defined as the total market value of:
A) labor plus capital plus technical change.
B) all final goods and services produced.
C) all final plus intermediate goods and services produced.
D) all final goods and services consumed.

Question

Quizplus · Accepted Answer

Nominal GNP is defined as the total market value of all final goods and services produced in a given year. It does not include intermediate goods and services or capital and technical change.

A Country's Nominal GNP for a Given Year Is Defined