If the GDP of a country in 2010 was $48 billion, what does this $48 billion represent?
A) the total value of all final goods and services produced during 2010
B) the actual growth of discretionary profit in 2010
C) the estimated growth of discretionary profit in the country for 2010
D) how much money the households in the country spent in 2010

Question

Quizplus · Accepted Answer

GDP (Gross Domestic Product) represents the total value of all final goods and services produced within a country's borders during a specific time period, usually one year. Therefore, if the GDP of a country in 2010 was $48 billion, it means that the total value of all final goods and services produced within the country in that year was $48 billion.

If the GDP of a Country in 2010 Was $48