GDP includes the value of all
A)final goods and services produced within a country using primarily market prices to measure the value of goods and services.
B)final goods and services produced within a country using primarily a survey of consumers to measure the value of goods and services.
C)goods and services produced within a country using primarily market prices to measure the value of goods and services.
D)goods and services produced within a country using primarily a survey of consumers to measure the value of goods and services.

Question

Quizplus · Accepted Answer

GDP measures the value of all final goods and services produced within a country over a certain period of time (usually one year). It is primarily measured using market prices, which represent the value of goods and services as determined by supply and demand in the economy. This excludes intermediate goods and services, which are used in the production of other goods and services, as they are already included in the value of the final goods and services. Consumer surveys are not typically used to measure GDP, as they do not capture the full range of economic activity in the economy.

GDP Includes the Value of All