GDP is best defined as the ________ in a given time period.
A)market value of the final goods and services consumed by a nation's citizens
B)number of goods and services produced within a country
C)number of final goods and services produced within a country
D)market value of the final goods and services produced within a country
E)market value of all the goods and services produced within a country

Question

Quizplus · Accepted Answer

GDP (Gross Domestic Product) is the market value of all final goods and services produced within a country in a given time period. It only includes final goods and services, meaning goods that are sold to the end user rather than being used in the production of another good. It also only includes goods and services produced within the country's borders, regardless of the nationality of the producers.

GDP Is Best Defined as the ________ in a Given