Gross domestic product is the sum of:
A) the market values of all final goods and services produced within a country in a given period of time.
B) the market values of all intermediate goods and services produced within a country in a given period of time.
C) all final goods and services produced by a country's citizens in a given period of time.
D) the market values of all final goods and services produced by a country's citizens in a given period of time.

Question

Quizplus · Accepted Answer

Gross domestic product (GDP) is the sum of the market values of all final goods and services produced within a country in a given period of time. This means that it includes the value of all finished products and services produced in a specific country, regardless of whether they are sold domestically or internationally. It does not include intermediate goods and services, which are used in the production of final products. It also only includes goods and services produced within the country, regardless of whether they are produced by citizens or foreigners.

Gross Domestic Product Is the Sum Of