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5 May, 14:13

Gross domestic product (GDP) is the value of goods and services produced in a country annually it can best be described as measuring an economy 's A) total product

B) total demand

C) total input

D) total output

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  1. 5 May, 14:33
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    Gross domestic product (GDP) is the value of goods and services produced in a country annually it can best be described as measuring an economy 's total output

    Answer: Option D

    Explanation:

    The Gross Domestic Product, acronym as GDP, is the final or total output of the economy of a nation. It takes into consideration all the value of goods and services which are produced in a country.

    The Gross in the term reflects its annual implication, Domestic implies that it has to be produced within the country boundary of the nation, and Product implies all the goods and services produced over a year in the country.

    Therefore, the Gross Domestic Product accounts for the total output of the national economy including every possible production and counted in accordance to the dollar bill value.
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