Gross domestic product (GDP) is the ________ in a given time period.

Question

Quizplus · Accepted Answer

Gross domestic product (GDP) is defined as the market value of all final goods and services produced within a country in a given period of time. It includes all of these goods and services without subtracting the value of intermediate goods (to avoid double counting). Choices A, B, and C do not fully capture the comprehensive nature of GDP as they either exclude important components or incorrectly specify the scope of included goods and services.

Gross Domestic Product (GDP) Is the ________ in a Given