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dean

· started a discussion

· 1 Months ago

wrong answer (Question: 114522.0 )

final goods and services produced in an economic year is GNP not GDP

Question:

Gross Domestic Product (GDP) is defined as the value of all

Options:
A) Goods produced in an economy in a year
B) Goods and services in an economy in a year
C) Final goods produced in an economy in a year
D) Final goods and services produced in an economy in a year
Solution:
Ans: (d) The gross domestic product (GDP) is one of the primary indicators used to gauge the health of a country's economy. It represents the total dollar value of all goods and services produced over a specific time period; you can think of it as the size of the economy.

Knowledge Expert

· commented

· 1 Months ago

Dear student,
Given answer is correct.
Keep learning,
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