GDP is:
A)the total value of all consumer expenditures within a given period.
B)national income after taxes.
C)the total value of all final goods and services plus intermediate goods and services produced domestically within a given period.
D)the value of all final goods and services produced domestically within a given period.

Question

GDP is:
A)​the total value of all consumer expenditures within a given period.
B)​national income after taxes.
C)​the total value of all final goods and services plus intermediate goods and services produced domestically within a given period.
D)​the value of all final goods and services produced domestically within a given period.

Quizplus · Accepted Answer

GDP (Gross Domestic Product) is the value of all final goods and services produced domestically within a given period. This includes goods and services that are purchased by consumers, businesses, and government, but it does not include intermediate goods or services used in production.

GDP Is