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Painters spent $200. Bills $1000. What is the GDP?

Option 1: $1200
Option 2: $800
Option 3: $1000
Option 4: $200

User Ctrlspc
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1 Answer

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The GDP in this scenario would be Option 3: $1000.

How to get the Gross Domestic product

GDP (Gross Domestic Product) measures the total monetary value of all finished goods and services produced within a country's borders in a specific time frame.

In this case, the spending on painters ($200) isn't part of GDP as it represents a service. However, the bill payments ($1000) for services received are included in GDP as they represent the value of services produced.

Therefore, the GDP in this scenario would be Option 3: $1000.

User Amjad Masad
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