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