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

Question

Quizplus · Accepted Answer

GDP measures the total market value of final goods and services produced within a country within a given time, meaning it includes only goods and services that have reached their final stage of production and are ready for sale to consumers. This excludes intermediate goods, which are used in the production of final goods, but are not sold directly to consumers.

GDP Is Best Defined as the Total Market Value of All