Gross domestic product is a measure of
A) the total value of all transactions in U. S. markets.
B) the added value of production.
C) the dollar value of final goods and services produced in the United States.
D) the dollar value of the aggregate measure of business as measured by the Dow Jones Industrial Average.

Question

Quizplus · Accepted Answer

Gross domestic product (GDP) measures the market value of all final goods and services produced within a country's borders in a given period of time. Therefore, option C, which states that GDP is the dollar value of final goods and services produced in the United States, is the correct answer. Option A is too broad as it includes all transactions, not just those related to production. Option B is incorrect because it refers to the added value of production, not the total value. Option D is incorrect because the Dow Jones Industrial Average is a stock market index and not a measure of economic activity.

Gross Domestic Product Is a Measure of