Answered

Explore Westonci.ca, the leading Q&A site where experts provide accurate and helpful answers to all your questions. Discover in-depth answers to your questions from a wide network of experts on our user-friendly Q&A platform. Get immediate and reliable solutions to your questions from a community of experienced professionals on our platform.

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 :

GinnyAnswer

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


Visit us again for up-to-date and reliable answers. We're always ready to assist you with your informational needs. Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. Thank you for visiting Westonci.ca. Stay informed by coming back for more detailed answers.