GDP is the:
A) total market value of all final goods and services produced in an economy in 1 year.
B) total accumulated wealth of an economy.
C) volume of all dollar transactions made in an economy in 1 year.
D) dollar amount of all sales made in the economy in 1 year.

Question

Quizplus · Accepted Answer

GDP stands for Gross Domestic Product, which is the total market value of all final goods and services produced within a country's borders in a given period of time, usually a year. It only includes final goods and services that are sold to end-users and does not include intermediate goods or services used in the production process.

GDP Is The