Question

A nation's GDP can be found by adding up the dollar value of the goods produced, the income earned, or total spending because

A
the factors of production are land, labor, capital, and entrepreneurship.
B
the costs of production are equal to the factors of production.
C
price equals cost equals income earned equals money spent.
D
all of the above.

Answer 1

GDP can be found by adding up the dollar value of the goods produced, the income earned, or total spending because all sales of the final goods and services that make up GDP will eventually end up as income for workers, managers, and investors.

Step-by-step explanation:

Gross Domestic Product (GDP) can be found by adding up the dollar value of the goods produced, the income earned, or total spending. This is because all sales of the final goods and services that make up GDP will eventually end up as income for workers, managers, and investors. GDP measures both the value of spending on final goods and the value of the production of final goods. It can be measured by the sum of what is purchased in the economy or what is produced.