The sum of all goods and services produced within a nation's boundaries each year is the ________.

Question

Quizplus · Accepted Answer

Gross domestic product (GDP) represents the total monetary value of all goods and services produced within a nation's geographic borders during a specified period of time, usually a year. It is one of the primary indicators used to assess the health of a country's economy. Choice A (Gross National Index) is not a commonly used term and does not represent a widely recognized economic indicator. Choice C (Global market indicator) is a broad term that could refer to a variety of different measures, such as world stock markets or global commodity prices, but it does not specifically represent a nation's economic performance. Choice D (Producer Price Index) measures changes in the prices received by domestic producers for their output, but it is not a measure of overall economic activity.

The Sum of All Goods and Services Produced Within a Nation's