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GDP at market prices for a domestic economy in a year is
AThe total market value of all final goods and services produced within the domestic territory of the country in a year
BOnly the value of agricultural goods produced
CThe same as GNP for all countries
DThe total income earned by all factors of production
Answer & Solution
Correct answer: A. The total market value of all final goods and services produced within the domestic territory of the country in a year
GDP_MP = total market value of FINAL goods & services produced within the domestic territory over the accounting period. 'Final' avoids double-counting intermediate goods.
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