Question
Gross domestic product (GDP) is the dollar value of all _____.
a. final goods and services produced in, or imported to, a country during one year
b. goods and services produced in a country during one year
c. final goods and services produced in a country during one year
d. intermediate and final goods and services produced in a country during one year
a. final goods and services produced in, or imported to, a country during one year
b. goods and services produced in a country during one year
c. final goods and services produced in a country during one year
d. intermediate and final goods and services produced in a country during one year
Answers
GPT-4o mini
The correct answer is:
**c. final goods and services produced in a country during one year.**
GDP measures the dollar value of all final goods and services produced within a country's borders in a specific time period, typically one year. It does not include intermediate goods to avoid double counting.
**c. final goods and services produced in a country during one year.**
GDP measures the dollar value of all final goods and services produced within a country's borders in a specific time period, typically one year. It does not include intermediate goods to avoid double counting.