GDP is the total:
A) value of all transactions in a year.
B) value of all final goods and services produced in a year.
C) value of all final goods and services produced by Canadians at home and abroad in a year.
D) value of all goods produced in the economy in a year.

Question

Quizplus · Accepted Answer

GDP measures the total value of all final goods and services produced within a country's borders in a given period of time, usually a year. It only includes the final goods and services, which means that intermediate goods (used to produce other goods) are not counted. GDP is a measure of a country's economic output and growth.

GDP Is the Total