Question

The sum of the value of all final goods and services produced within the domestic territory of a country in a year is:

Options

• Gross National Product

• Net Domestic Product

• Gross Domestic Product

• Net National Product

Answer 1

Gross Domestic Product

Explanation:

Gross domestic product (GDP) is the monetary value of all the finished goods and services produced within a country's borders in a specific time period. Though GDP is usually calculated on an annual basis, it can be calculated on a quarterly basis as well.