Which of the following best describes a nation's Gross Domestic Product?
A) The market value of all goods and services produced in the economy, including intermediate goods
B) The total market value of all final goods and services produced in the economy during a year
C) The constant dollar value of all goods produced in the economy during a year period
D) The market value of all goods and services less depreciation

Question

Quizplus · Accepted Answer

A nation's Gross Domestic Product (GDP) is the total market value of all final goods and services produced in the economy during a year. This excludes intermediate goods (goods used in the production of other goods), depreciation (the wear and tear on capital goods), and imports (goods produced outside of the country).

Which of the Following Best Describes a Nation's Gross Domestic