Which of the Following Statements Is True

question 99

Multiple Choice

Which of the following statements is true?

• A) A country's GDP includes all output produced by its factors of production.
• B) A country's GDP includes all output produced within its borders.
• C) A country's GDP is equal to its exports minus its imports.
• D) A country's GDP is equal to all output produced and consumed within its borders.

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Definitions:

Interest Rate

The percentage of an amount of money charged for its use over a specified period of time, often expressed as an annual percentage.

Gnome Molds

Tools or containers used to shape garden gnome statues during their production process.

Plaster

A mixture of water, lime, or gypsum, sand, and possibly other materials, used in construction and repair of buildings for coatings, molding, or casting surfaces.

Labor

The human effort, both physical and mental, used in the creation of goods and services.