Question

GDP is: Group of answer choices the sum of all currency and coins in circulation. the value of all final goods and services produced by a government. the value of all final good and services produced anywhere in the world by a nation's firms. the value of all final goods and services produced domestically.

Answer 1

Answer:

D. The value of all final goods and services produced locally

Explanation:

GDP which is the gross domestic product is simply defined as the market value of final goods and services produced within the country at a particular period, usually a year. Unlike GNP, GDP is earned domestically rather than abroad (hence the appellate, domestic). It is the final value of goods and services produced with the geographical boundary of a country. Emphasis on FINAL value and DOMESTICALLY.