Gross domestic product (GDP) is the dollar value of all _____.

Question

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

Answer 1

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.