Which of the following correctly explains the type of economic activity counted in U.S. GDP?

Question

(1 point)
Responses

GDP measures the market value of all final goods and services produced in the U.S.
GDP measures the market value of all final goods and services produced in the U.S.

GDP measures the market value of goods and services produced by U.S. owned companies.
GDP measures the market value of goods and services produced by U.S. owned companies.

GDP is a dollar measure of the goods produced by the economy.
GDP is a dollar measure of the goods produced by the economy.

GDP measures the market value of all goods and services purchased in the U.S.

Answer 1

The correct explanation of the type of economic activity counted in U.S. GDP is:

GDP measures the market value of all final goods and services produced in the U.S.

This statement accurately captures the essence of GDP, as it focuses on the total output of final goods and services within the country, regardless of whether they are produced by domestic or foreign companies operating within the U.S.