Question

GDP is the total value of...................produced during a particular year.​

Answer 1

Answer:

GDP is the final value of the goods and services produced within the geographic boundaries of a country during a specified period of time, normally a year. GDP growth rate is an important indicator of the economic performance of a country.

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Answer 2

Answer:

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Explanation:

GDP or ‘Gross Domestic Product’ is the final value of goods and services.  

GDP is the “market value” of all “final goods” and “services” within a nation or country in a year. GDP can also be defined as it is equal to the total expenditure incurred for all ‘final goods and services’ produced within a country.

Here is the formula for measuring GDP through expenditure method.  

GDP = [Consumption (C) + Gross Investment (I) + Government spending (G) + (Export(X) - Import (M))]

GDP = [C + I + G + (X - M)].

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