Answer to Question #247572 in Macroeconomics for Pat

Question #247572

Gross domestic product (GDP) may be defined as ...

A. total resource income less taxes, savings and spending on exports.
B. the market value of all final goods and services produced in a country in a specific year.
C. the economic value of all economic resources used in the production of a year's output.
D. the monetary value of all goods and services (final, intermediate and non-market) produced in a given year.

Expert's answer

D. The monetary value of all goods and services ( final, intermediate and non market) produced in a given year.