Which of the following is included in gross domestic product for an economy in a given year?
A)the value of intermediate goods produced in that year
B)the value of used goods sold in that year
C)the value of final goods produced in that year
D)All of the above would be included in gross domestic product for an economy in a given year.

Question

Quizplus · Accepted Answer

Gross domestic product (GDP) includes the value of final goods and services produced in a given year within a country's borders. Intermediate goods, which are goods used in the production of other goods, are not included in GDP. Used goods are also not included in GDP as they were already counted in previous years when they were new.

Which of the Following Is Included in Gross Domestic Product