Question

GDP of a country is based on :

a. Total value of goods and services

b. Final value of goods and services

c. Initial value of goods and services

d. All of these.

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Answer 1

Answer:

U.S. GDP Over the Past 15 Years. Since GDP is based on the monetary value of goods and services, it is subject to inflation. Rising prices will tend to increase a country's GDP, but this does not necessarily reflect any change in the quantity or quality of goods and services produced.