Gross Domestic Product (GDP)is defined as the total value of ____ goods and services produced within a country's borders over a year.

Question

Quizplus · Accepted Answer

GDP measures the value of final goods and services, which means goods and services that are sold to the end consumer and are not used as an input in another production process. Intermediate goods, consumption goods, and capital goods are not counted in GDP as they are not the final output produced in the economy.

Gross Domestic Product (GDP)is Defined as the Total Value of ____