The GDP of the U.S.in 2012 was around $15.9 trillion.This means
A)that the value of output in the U.S.in 2012 was around $15.9 trillion.
B)that total income in the U.S.in 2012 was around $15.9 trillion.
C)that total spending on final goods and services in the U.S.in 2012 was around $15.9 trillion.
D)all of the above

Question

Quizplus · Accepted Answer

GDP represents the total value of final goods and services produced within a country in a given period of time. It can be measured by either adding up the value of all goods and services produced (output), the total income generated from production, or the total spending on final goods and services. Therefore, all three options (output, income, and spending) are correct, and the answer is D.