GDP for a given period measures the:
A)money circulating through an economy.
B)market value of the final goods and services produced within the borders of a country.
C)market value of the final goods and services produced by the citizens of a country regardless of their location.
D)amount of government spending undertaken.

Question

Quizplus · Accepted Answer

GDP (Gross Domestic Product) measures the total market value of all final goods and services produced within the borders of a country during a given period of time (usually a year). It does not take into account the location of the producers, only the location of the production. Therefore, B is the correct answer. A only represents the overall money within an economy, which may not accurately represent the production of the country. C is incorrect as GDP measures production, not citizenship of the producers. D is incorrect as it only represents the government spending, which is just one component of GDP.

GDP for a Given Period Measures The