Question

What is the definition of Gross Domestic Product (GDP)?

A. an indicator used to measure the overall happiness of citizens based on their community involvement
B. the total value of officially recorded goods and services produced in a country's borders within a given
year
the monetary worth of goods and services produced in a country, plus income earned from investments
outside of the country
the total value of officially recorded goods and services produced by companies and citizens, both
inside and outside a country's borders, within a given year
D.
Please select the best answer from the choices provided.
OO

Answer 1

The total value of officially recorded goods and services produced in a country’s borders within a given year

Answer 2

The total market value of all final goods and services produced in a country in a given year, equal to total consumer, investment and government spending, plus the value of exports, minus the value of imports

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