Gross Domestic Product is best defined as
A) the total market value of all final goods and services produced during a year by factors of production located within a nation's borders.
B) the total market value of all intermediate goods and services produced during a year by factors of production located within a nation's borders.
C) the value added to all goods produced in an economy during a year.
D) the total market value of all final goods and services that exist in an economy at a given point in time.
Correct Answer:
Verified
Q62: Which of the following transactions is included
Q63: Goods that are used up entirely in
Q64: A farmer buys seed for 20 cents
Q65: Wheat used for producing bread is
A) a
Q66: U.S. Gross Domestic Product (GDP) does NOT
Q68: Which of the following best describes a
Q69: Which of the following transactions would be
Q70: Intermediate goods are NOT included in Gross
Q71: Suppose the total value of all assets
Q72: Which of the following would be included
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents