Question : ______ is the market value of all final goods and services produced within a domestic territory of a country measured in a year.
Option 1: Gross margin
Option 2: Gross Domestic Product (GDP)
Option 3: Net National Product (NNP)
Option 4: Gross National Product (GNP)
Correct Answer: Gross Domestic Product (GDP)
Solution : The correct answer is Gross Domestic Product (GDP) .
Gross Domestic Product (GDP) is the market value of all final goods and services produced within the domestic territory of a country within a specific time frame, usually measured annually. It serves as a comprehensive indicator of a nation's economic performance, encompassing various sectors and reflecting the overall health and growth of the economy. GDP includes consumer spending, government expenditures, business investments, and net exports, providing a broad overview of economic activity.
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