The total market value of the nation's annual final products produced domestically best defines the

Question

Quizplus · Accepted Answer

The definition provided best fits the concept of Gross Domestic Product (GDP), which measures the total market value of all final goods and services produced within a country in a given period of time, usually one year. GNP measures the total income of a country's residents, regardless of where the production takes place. CPI (Consumer Price Index) measures the changes in the prices of a basket of goods and services purchased by households. PPI (Producer Price Index) measures the changes in the prices of goods and services purchased by producers.

The Total Market Value of the Nation's Annual Final Products