Please explain the answer:
GDP of a country is BASED ON
(A) Total value of goods and services
(B) Final value of goods and services
(C) Initial value of goods and services
(D) All of these
Dear student,
GDP stands for "Gross Domestic Product" and it represents the total monetary value of all final goods and services produced and sold on the market within a country during a period of time typically for 1 year.
Goods and services counted are those produced within the country's border, regardless of the nationality of the producer. For example, the production of a German-owned factory in the United States will be counted as part of the United States' GDP.
Therefore your answer will be option A.
Regards
GDP stands for "Gross Domestic Product" and it represents the total monetary value of all final goods and services produced and sold on the market within a country during a period of time typically for 1 year.
Goods and services counted are those produced within the country's border, regardless of the nationality of the producer. For example, the production of a German-owned factory in the United States will be counted as part of the United States' GDP.
Therefore your answer will be option A.
Regards