Gross domestic product (GDP) is equal to the value of __________.
A) the consumer price index
B) all exports sold regionally within a defined period
C) all imports sold domestically within a defined period
D) all goods and services sold within a defined period

Question

Quizplus · Accepted Answer

Gross domestic product (GDP) is a measure of the total monetary value of all the finished goods and services produced within a country's borders in a specific time period (usually a year). Thus, it includes all goods and services sold within a defined period regardless of their origin (domestic or imported). The consumer price index (CPI) is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. Exports sold regionally and imports sold domestically are not included in GDP as they do not reflect domestic production.

Gross Domestic Product (GDP) Is Equal to the Value of __________