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    Question

    Which of the following terms defines the monetary value

    of final goods and services — that is, those that are bought by the final user - produced in a country in a given period of time (say a quarter r a year)?
    A Gross Domestic Product Correct Answer Incorrect Answer
    B Net Domestic Product Correct Answer Incorrect Answer
    C Domestic Product Correct Answer Incorrect Answer
    D Gross National Product Correct Answer Incorrect Answer

    Solution

    When we take a sum of the monetary value of all the final goods and services produced within the geographic boundaries of a country in a specific period, it is called Gross domestic product (GDP).

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