# ECONOMICS (CBSE/UGC NET)

## ECONOMICS

### GDP

 Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
GDP measures the:
 A Total market value of intermediate goods and services produced by the citizens of a country in a given year. B Total market value of all final goods and services produced in an economy in a given year. C Change in total employment at U.S. owned firms over the course of a given year. D Change in production levels at U.S. owned firms measured quarterly.
Explanation:

Detailed explanation-1: -GDP stands for “Gross Domestic Product” and represents the total monetary value of all final goods and services produced (and sold on the market) within a country during a period of time (typically 1 year). GDP is the most commonly used measure of economic activity.

Detailed explanation-2: -Measuring GDP. GDP measures the monetary value of final goods and services-that is, those that are bought by the final user-produced in a country in a given period of time (say a quarter or a year). It counts all of the output generated within the borders of a country.

Detailed explanation-3: -In economic terms, the total market value of all final goods and services produced in a country in a given year is known as Gross Domestic Product (GDP).

Detailed explanation-4: -GDP is the total money value of all final goods and services produced in a country in a year. Q. GDP is the total money value of all final goods and services produced in a country in a year.

Detailed explanation-5: -U.S. gdp for 2021 was \$23, 315.08B, a 10.71% increase from 2020. U.S. gdp for 2020 was \$21, 060.47B, a 1.5% decline from 2019. U.S. gdp for 2019 was \$21, 380.98B, a 4.13% increase from 2018. U.S. gdp for 2018 was \$20, 533.06B, a 5.42% increase from 2017.

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