Which of the Following Countries Has the Highest Gross Domestic

question 86

Multiple Choice

Which of the following countries has the highest gross domestic product?

• A) Belwick,whose market value of final goods is $100 billion and market value of final services is $50 billion for two years
• B) Sparanthea,whose market value of intermediate goods is $200 billion and market value of intermediate services is $50 billion for a quarter year
• C) Zaneland,whose market value of final goods is $120 billion and market value of intermediate goods is $20 billion for a year
• D) Acquardica,whose market value of final goods is $170 billion and market value of final services is $90 billion for a year

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Definitions:

Long Run

In economics, refers to a period in which all factors of production and costs are variable, allowing for complete adjustment to changes.

Economic Profit

The discrepancy between the overall income and the sum of all expenses, encompassing both direct and indirect costs.

Monopolistically Competitive

A market scenario where multiple firms compete on product differentiation, price, and quality, while maintaining some degree of market power.

Product Demand

The desire and willingness to purchase a specific product, quantified by the quantity consumers are ready to buy at various prices.