Question

True or false: gross domestic product (gdp) measures total expenditures on final goods and services during a given period of time.

Answer 1

That statement is True.

The purpose of calculating Gross Domestic Product is to measure the market value of all the goods and services that produced by a country within a specific time period.

Gross Domestic Product is calculated using this formula:

Consumption + Gross Investment + Government investment + (Exports - Imports)

Answer 2

It is true that Gross domestic product (GDP) measures total expenditures on final goods and
services during a given period of time.
Gross domestic product (GDP) is a monetary measure of the market...