Question

Gross domestic product is ________. Group of answer choices the total economic value of goods and services produced by a country the willingness of consumers to pay for ecosystem services all the resources necessary to produce ecosystem services a measure of conventional economic activity, with positive nonmonetary influences added and negative nonmonetary impacts subtracted

Answer 1

economic value of goods and services produced by a country

Step-by-step explanation:

Gross domestic product GDP is a numerical value that indicates the total value of all products and services manufactured within the boundaries of a country in a period. GDP value communicates the economic growth rate in a country. An increase in the GDP value shows an increase in economic activities, meaning the positive economic growth.

In calculating the value of GDP, economists consider finished consumer goods and services only. This eliminates the possibilities of double or multiple counting. A consistent decline in the value of GDP communicates the onset of a recession. GDP be expressed as nominal or real GDP.