Answered

Select the correct answer.

Which of the following statements accurately describes GDP?

A. GDP is the total value of goods and services demanded in a country in a given year.
B. GDP is the total value of goods demanded in a country in a given year.
C. GDP is the total value of goods and services produced in a country in a given year.
D. GDP is the total value of goods and services exported in a country in a given year.



Answer :

GinnyAnswer

Final answer:

GDP is the total value of final goods and services produced within a country and is calculated using a specific equation involving consumption, investment, government spending, exports, and imports.


Explanation:

Gross Domestic Product (GDP) is the market value of all final goods and services produced within a country in a given period. GDP is calculated using the equation GDP = C + I + G + (X - M), where C is consumption, I is investment, G is government spending, X is exports, and M is imports.


Learn more about Gross Domestic Product (GDP) here:

https://brainly.com/question/33854874


Other Questions