GDP is best defined as the total market value of all ___________ produced within a country within a given time.
A) goods and services
B) final goods and services
C) services
D) goods
E) final goods

Question

Quizplus · Accepted Answer

GDP only includes final goods and services, which are products that are sold to the end user and not used in the production of another good or service. Including intermediate goods (goods used in production) would result in double counting their value. Therefore, only final goods and services are included in the calculation of GDP.

GDP Is Best Defined as the Total Market Value of All