Answered

IDNLearn.com is your go-to resource for finding precise and accurate answers. Our platform is designed to provide trustworthy and thorough answers to any questions you may have.

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.

Sagot :

GinnyAnsweridn

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


Thank you for being part of this discussion. Keep exploring, asking questions, and sharing your insights with the community. Together, we can find the best solutions. Your search for answers ends at IDNLearn.com. Thank you for visiting, and we hope to assist you again soon.