Question

Gross Domestic Product (GDP) is the total market value of all

a.final goods and services produced annually within a country's borders.
b.final and intermediate goods and services produced annually within a country's borders.
c.intermediate goods and services produced annually within a country's borders.
d.final goods produced every month within a country's borders.

Answer 1

Gross Domestic Product (GDP) is the total market value of final goods and services produced annually within a country's borders.

Step-by-step explanation:

Gross Domestic Product (GDP) is the total market value of final goods and services produced annually within a country's borders.

Final goods refer to goods at the furthest stage of production at the end of a year, to avoid double counting. For example, if a tire manufacturer produces tires and an automaker sells a truck that contains those tires, the value of the tires should not be counted twice. GDP only includes the final value of goods and services.