alleryGross Domestic Product (GDP) is
Athe total income of citizens abroad
Btax revenue collected by central government
Cthe total amount of money in circulation
Dthe value of all final goods and services produced within a country in a year
Answer & Solution
Correct answer: D. the value of all final goods and services produced within a country in a year
1. GDP measures the value of final goods and services produced within a country in a year.
2. Only final values are counted to avoid double-counting intermediate goods.
3. It is the standard measure of an economy's size.
_Source: syllabus Understanding Economic Development, Ch 2 "Sectors of the Indian Economy"_
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