____ is the total dollar value of goods and services produced in a country in a year based on the location of the owners.
A)Gross National Product
B)Gross Domestic product
C)Gross National Earnings
D)Gross Domestic Earnings
E)None of these choices

Question

Quizplus · Accepted Answer

Gross Domestic Product (GDP) is the total dollar value of goods and services produced in a country in a year based on the location of the production. Gross National Product (GNP) is similar but takes into account the ownership of the production, which may be located outside of the country. However, the question specifies "based on the location of the owners," which refers to GDP. Therefore, the correct choice is B, gross domestic product. Choices C, D, and E are not valid options.

____ Is the Total Dollar Value of Goods and Services