The Definition of Gross Domestic Product Is

question 69

Multiple Choice

The definition of gross domestic product is

• A)the total value of all sales in the economy.
• B)the total value of production in the domestic economy plus the production of domestic firms in foreign countries.
• C)the total value of all sales of final and intermediate goods in the domestic economy.
• D)the total of the money values of all final goods and services produced in the domestic economy within a specific time period.

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Definitions:

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A market structure characterized by a large number of sellers and buyers where no single participant can significantly influence the price of goods or services.

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