GDP refers to ________.
A) the amount of personal disposable income in the economy
B) the difference between government spending and government revenues
C) the total manufacturing output in the economy
D) the total production of goods and services in the economy

Question

Quizplus · Accepted Answer

GDP stands for Gross Domestic Product, which is the total production of goods and services in a country's economy. It is a measurement of the size and health of the economy. Option A refers to personal disposable income, which is a different concept. Option B refers to the budget deficit or surplus, which is also not related to GDP. Option C refers to only manufacturing output and not the total production of goods and services in the economy.

GDP Refers to ________