Question

Which phrase defines gross domestic product (GDP)? A. the difference of expenditures made importing goods and income earned from exporting goods B. the total monetary value of all the finished goods and services produced in a country in a given period C. the economic value of the professional skills and knowledge used in the production of goods and services D. the total investments made for the manufacture of domestic products and services in one year

Answer 1

B.

Explanation: The GDP is the total value of all final goods and services produced in a particular economy; the dollar value of all final goods and services produced within a country's borders in a given year.

Answer 2

B. the total monetary value of all the finished goods and services produced in a country in a given period

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